March 1, 2024 · Form 4 insider transaction
Blumberg Richard P. bought 400,000 shares of GTHP, a transaction worth N/A. The trade was recorded as j and disclosed on an SEC Form 4.
On March 10, 2021, the Company entered into a consulting agreement with Richard Blumberg, which was subsequently amended on September 30, 2021 and November 11, 2022. As a result of the consulting agreement Mr. Blumberg provided $350,000 to the Company in exchange for 1,600,000 common shares and 3,600,000 warrants to acquire common shares with an exercise price of $0.30. Issuance of the common stock and warrants was predicated on the Company obtaining financing totaling a minimum of $1.0 million and Mr. Blumberg's continued service for the Company. The common stock and warrants are required to be issued in four equal tranches. The third tranche was issued on March 1, 2024 and was due 18 months after the Company obtained the requisite financing. The remaining tranche is due September 2024.