SCHEDULE 13G: Intracoastal Capital and Affiliates Report Zero Beneficial Ownership in DatChat, Inc. After Brief 9.1% Stake
Beneficial Ownership Statement
A Schedule 13G filing reveals that Mitchell P. Kopin, Daniel B. Asher, and Intracoastal Capital LLC, who briefly held a 9.1% beneficial ownership in DatChat, Inc. following a Securities Purchase Agreement on January 8, 2025, now report zero beneficial ownership as of January 14, 2025.
Summary
- The Schedule 13G filing was made by Mitchell P. Kopin, Daniel B. Asher, and Intracoastal Capital LLC (collectively, the "Reporting Persons") regarding their beneficial ownership in DatChat, Inc.
- The filing indicates that immediately following the execution of a Securities Purchase Agreement (SPA) with DatChat, Inc. on January 8, 2025, the Reporting Persons were deemed to have beneficial ownership of 300,000 shares of Common Stock.
- This initial 300,000 shares represented approximately 9.1% of DatChat, Inc.'s Common Stock, calculated based on 3,009,329 shares outstanding as of January 7, 2025, plus the 300,000 shares to be issued.
- However, as of the close of business on January 14, 2025, the Reporting Persons report having beneficial ownership of no shares of Common Stock, representing 0.0% of the class.
- The Reporting Persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of DatChat, Inc.
Sentiment
Score: 5
Explanation: The document is a factual regulatory filing reporting a change in beneficial ownership. It does not contain subjective language or express positive or negative sentiment regarding the company's performance, but rather states the current ownership status.
Future Outlook
The document does not provide any forward-looking statements or guidance regarding DatChat, Inc.'s future operations or financial performance, focusing solely on the reporting persons' beneficial ownership status.
Industry Context
This Schedule 13G filing is a standard regulatory disclosure indicating a change in beneficial ownership by a passive investor group. It does not provide insights into broader industry trends or competitive landscape, but rather reflects specific investment activity related to DatChat, Inc.
Stakeholder Impact
- Shareholders: The brief beneficial ownership and subsequent reduction to zero by a group of investors could be interpreted differently by shareholders; it might suggest a short-term investment or a transaction that did not fully materialize as a long-term stake. The initial SPA implies dilution for existing shareholders due to new share issuance.
Key Dates
| Date | Description |
|---|---|
| 01/07/2025 | Date as of which 3,009,329 shares of Common Stock were reported outstanding by DatChat, Inc. |
| 01/08/2025 | Date of execution of the Securities Purchase Agreement (SPA) with DatChat, Inc., immediately following which Reporting Persons were deemed to have 9.1% beneficial ownership. |
| 01/10/2025 | Date DatChat, Inc. filed a Form 8-K disclosing the Securities Purchase Agreement. |
| 01/14/2025 | Date as of which Reporting Persons report zero beneficial ownership of Common Stock; also the signature date of the Schedule 13G filing. |
Keywords
DatChat Inc., Schedule 13G, Beneficial Ownership, Intracoastal Capital LLC, Mitchell P. Kopin, Daniel B. Asher, Common Stock, SEC Filing, Securities Purchase Agreement
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.