Thank goodness CTTC can keep on issuing shares:
"During December 2013, the Company issued 66,118 shares of its common stock to directors at $0.40 per share to settle $26,447 of accrued liabilities.
During December 2013, Southridge converted its $65,000 note for 260,000 shares of the Company’s common stock (see Note 13).
During December 2013, the Company issued 450,000 shares of its common stock valued at $157,500 in connection with the Equity Purchase Agreement and Liability Purchase Agreement (see Notes 5 and 11).
During December 2013, the Company issued 66,118 shares of its common stock to directors at $0.40 per share to settle $26,447 of accrued liabilities.
During November and December 2013, the Company allocated $120,787 of convertible note proceeds for the fair value of warrants and beneficial conversion feature to additional paid-in capital.
During September 2013, the Company issued 1,618,235 shares of its common stock as the first tranche in its Liabilities Purchase Agreement (see Note 11).
During September 2013, the Company issued 1,000,000 shares of its common stock at $0.18 per share for legal services to its former legal team, Cutler Law Group (“CLG”), for services to be billed in the 2013-2014 fiscal year. As the Company has since changed counsel, management has requested the return of 950,000 shares, while the remaining 50,000 shares priced at $ 0.18 will cure any outstanding issues. As of April 15, 2014, CLG has neither returned the 1,000,000 shares nor accepted the 50,000 shares."
Otherwise they'd be bankrupt for sure, huh?
Wow! 260,000 shares to Southridge just to get them to agree to issue a note!
Lokks like Cutler's no fool! Fire my rear end, hah! I got my MILLION shares -- so there!
I can't quite understand why CTTC issued those 1.6 million shares to start paying off the COB's debt but yet apparently not a dime has been paid yet.
On the bright side, I guess you could say they're increasing "liquidity":
"Common stock, $.01 par value, 40,000,000 shares authorized, 19,952,907 shares issued and outstanding at December 31, 2013 and 15,237,304 shares issued and outstanding at December 31, 2012"
Then again, I hate to think what might happen to the stock price if everyone decides to sell at the time.
