Thursday, September 25, 2014 8:47:38 AM
1) Correct
2) Correct
3) True, but incomplete. What they really gained was a company with many millions of authorized but unissued shares just waiting to be dumped into the market for near unlimited funds as long as the process is allowed to continue. Both of the reverse splits created tons of free shares.
4) In an ideal world it is possible. I do not believe that even when approved they will bring in revenue sufficient to meet production costs and to cover the costs of research, development and trial costs.
5) Correct
6) 56 million WAS created through the issuance of shares. Once again I believe you will find they did NOT purchase any securities. They instead created more relationships to sell further shares in the future.
7) Semi correct. It will take much longer than 18 months. A typical Phase 3 completion and the following FDA approval process takes well over 3 years.
8) You are right on concerning the condition of the required documents for presentation to the FDA. We had a former employee on this board some time ago that was highly placed and he described the accidental destruction of critical documents, horrible record keeping and in general a real mess.
In any event, good luck to you. You and I have disagreed on many issues over time but I do wish you well. I still think your investment in this company is ill advised and if you stay long enough you will lose everything but at least you appear to be looking at 'some' of the truths involved.
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