Investors may be interested to know that John Paul DeJoria, a significant shareholder in Rego Payment Architectures, Inc. (OTCMKTS:RPMT), has recently increased his holdings in the company. According to the latest filings, DeJoria has purchased additional shares valued at $35,000.
On May 16, 2024, DeJoria acquired 38,889 shares of the company's Series B Cumulative Convertible Preferred Stock. Each share was bought at a price of $0.9, reflecting the conversion price of the preferred stock into common stock, which is set at the same rate per share. This transaction has bolstered DeJoria's investment in Rego Payment Architectures, signaling his continued confidence in the company's potential.
Following this transaction, DeJoria's beneficial ownership in the company's Series B Preferred Stock has reached a total of 164,446 shares. This ownership is spread across different trusts and personal holdings, with 44,445 shares held by the JDP 2019 Gift Trust, another 44,445 shares by the John Paul DeJoria Family Trust, and 75,556 shares directly held by DeJoria himself.
It's important to note that the Series B Preferred Stock is convertible into common stock, with each share of preferred stock currently convertible into 100 shares of common stock. However, the conversion is subject to a maximum percentage limitation to prevent any single holder from owning more than 4.99% of the common stock post-conversion, unless specific notice is given to increase that threshold.
The transaction was officially signed off on May 20, 2024, by Kevin Lange, acting as Attorney-in-Fact. This move by DeJoria may be of interest to current and potential investors as it reflects an insider's bolstered stake in Rego Payment Architectures' future.
InvestingPro Insights
Amidst the recent transaction by John Paul DeJoria, investors looking at Rego Payment Architectures, Inc. (RPMT) should consider several key points from InvestingPro. The company's market capitalization stands at $149.43 million, which provides a sense of its size in the financial market landscape. Notably, RPMT's stock has experienced considerable price volatility, a trend that can affect investor strategy. Additionally, the company has been grappling with weak gross profit margins, which is a critical factor for assessing its financial health.
InvestingPro data also reveals that RPMT's P/E ratio is currently negative at -9.09, reflecting challenges in profitability over the last twelve months. Moreover, the stock has seen a significant decline in price over the last three months, with a -32.66% total return over that period. This could be indicative of market sentiment and the company's performance relative to investor expectations.
For those considering a deeper dive into RPMT, InvestingPro offers additional insights and metrics. Currently, there are seven more InvestingPro Tips available for RPMT, which can provide a more comprehensive understanding of the company's financial position and market performance. Interested investors can access these tips and benefit from a special offer: use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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