Ok, let me just get a couple items out quickly since I'm sure you are all waiting.
I asked some very tough questions in emails to the CEO this evening and just received a couple of replies which I'm very excited about, but I will get to those in a minute.
I just spoke with him to clarify this o/s issue which was confusing me as well. I did exchange a few emails with him today and told him I was the moderator of the board and trying to keep everything as clean and honest as possible. I emailed him asking him to call me because there was such confusion (including me) about the o/s, etc. He just called me, so let me address this first and then I will continue to post the other info.
I asked him about the supposed 130 million o/s and to confirm. Remember folks, he is not the CFO and was doing his best to respond as well as he knew. The o/s was 100 million as of this month.
They issued an S-8 of 10 million shares in September which he erroneously added into his responses today. These are employee incentive shares (stock options) that are restricted. But they have been already added into the 100 million as of Nov. 1.
They did issue an S-8 recently for approximately 14 million shares. Half of that is for employee bonuses at the end of the year (which are also restricted). The other half was paid to consultants who they are working with to enter the european market with their product. So, the current o/s between now and the next week or so will be approximately 115 million.
So the additional 15 million, half is employee bonuses which are restricted stock and the other is being used to pay consultants for their entry into the european market. More info to come in a few minutes. Let me take a breather and continue to collect the info from my notes and emails. (Man, you guys are wearing me out! LOL.)
