Except as set forth herein or previously disclosed in the Schedule 13D, the Reporting Persons do not have
present plans or proposals at this time that relate to or would result in any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
ITEM 5.
|
INTEREST IN SECURITIES OF THE ISSUER
|
Item 5 of this Schedule 13D is hereby amended and restated in its entirety as follows:
(a) The aggregate percentage of Common Stock reported to be beneficially owned by the Reporting Persons is based upon the sum of (i) 95,784,174 shares of
Common Stock outstanding as of March 31, 2020, as reported on the Form 6-K filed by the Issuer on April 23, 2020, and (ii) 1,800,000 shares of Common Stock receivable by the Reporting Persons upon
exercise of the warrants, and (iii) 1,713,995, the number of shares of Common Stock receivable by the Reporting Persons upon conversion of the amount of the Convertible Notes presently convertible by the Reporting Persons.
Nokomis Capital, as the investment adviser of the Nokomis Accounts, may be deemed to beneficially own the 9,919,887 shares of Common Stock held by the Nokomis
Accounts or which the Nokomis Accounts have a right to acquire, representing approximately 9.99% of the issued and outstanding shares of Common Stock of the Issuer. This amount consists of (i) 6,405,892 shares of Common Stock, and (ii) 1,800,000
shares of Common Stock receivable by the Reporting Persons upon exercise of the warrants, and (iii) 1,713,995 shares of Common Stock receivable by the Reporting Persons upon conversion of the amount of the Convertible Notes presently convertible by
the Reporting Persons. The Reporting Persons also hold 23,704,953 shares of Common Stock receivable upon the conversion of the Convertible Notes, which are not currently exercisable due to a beneficial ownership limitation of 9.99%.
In addition, Mr. Hendrickson, as principal of Nokomis Capital, the investment adviser of the Nokomis Accounts, may also be deemed to beneficially own the
9,919,887 shares of Common Stock held by the Nokomis Accounts or which the Nokomis Accounts have a right to acquire, representing approximately 9.99% of the issued and outstanding shares of Common Stock of the Issuer.
(b) Nokomis Capital and Mr. Hendrickson each has the shared power to vote and dispose of the Common Stock held by the Nokomis Accounts or which the
Nokomis Accounts have a right to acquire reported in this Schedule 13D, as amended.
The filing of this Schedule 13D, as amended, shall not be construed as
an admission that Nokomis Capital or Mr. Hendrickson is, for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any of the 9,919,887 shares of Common Stock held
by the Nokomis Accounts or which the Nokomis Accounts have a right to acquire. Pursuant to Rule 13d-4, Nokomis Capital and Mr. Hendrickson disclaim all such beneficial ownership.
(c) Except as set forth on Schedule A attached hereto, there have been no transactions in securities of the Issuer during the 60 days prior to the date
hereof by any of the Reporting Persons. The information set forth on Schedule A is incorporated herein by reference.
(d) No person other than the
Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Common Stock.
(e) Not applicable.