Ionic Ventures, LLC - May 31, 2024 Form 3 Insider Report for Kinetic Seas Inc. (ECGR)

Role
10%+ Owner
Signature
IONIC VENTURES, LLC, By: Ionic Management, LLC, its Manager, By: /s/ Keith Coulston, its Manager
Stock symbol
ECGR
Transactions as of
May 31, 2024
Transactions value $
$0
Form type
3
Date filed
8/27/2024, 06:51 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding ECGR Common Stock 2M May 31, 2024 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As of the date of this Form 3 filed by Ionic Ventures, LLC ("Ionic"), Ionic Management, LLC ("Ionic Management"), Brendan O'Neil and Keith Coulston (each, a "Reporting Person"), the 2,000,000 shares (the "Shares") of the issuer's common stock, par value $0.00001 per share (the "Common Stock"), beneficially owned by each Reporting Person represents 10% or more of the outstanding shares of Common Stock, based on 16,737,000 shares of Common Stock outstanding, as disclosed in the Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024, filed by the issuer with the U.S. Securities and Exchange Commission on August 19, 2024. This Form 3 was not filed within 10 days of the date on which 19,250,000 shares of Common Stock were retired by the issuer on May 31, 2024, resulting in each Reporting Person becoming the beneficial owner of 10% or more of the outstanding shares of Common Stock, and is being filed now to correct an administrative oversight by each Reporting Person.
F2 The Shares are beneficially owned directly by Ionic. The manager of Ionic, Ionic Management, has the power to dispose of and the power to vote the Shares beneficially owned by Ionic, and each of the managers of Ionic Management, Mr. O'Neil and Mr. Coulston, has the power to dispose of and the power to vote the Shares indirectly beneficially owned by Ionic Management. Each Reporting Person disclaim beneficial ownership of such shares of Common Stock, directly or indirectly, except to the extent of their respective pecuniary interest therein, and the inclusion of the Shares in this Form 3 shall not be deemed an admission of beneficial ownership of the Shares by any Reporting Person for purposes of Section 16 of the Exchange Act of 1934, as amended, or the rules and regulations promulgated thereunder, or for any other purpose.

Remarks:

See Exhibit 99.1 to this Form 3 for the joint filing agreement by and among each Reporting Person, which joint filing agreement is incorporated herein by reference.