LMFAO, As previously disclosed, we have executed three comprehensive agreements with an Investment Bank which remain active and are still in effect. One of those agreements is an exclusive investment banking agreement for a 12 month period that expires in May, 2017. These agreements were signed with a view to establishing a multi-tiered financing approach and a reliable form of financing for the Company to move the business forward. To date, the investment bank has not yet performed under the agreements. One issue was the accelerated decline in our public stock price hampering efforts to raise interim capital to take out our current variable-rate convertible debt. The initial approach and strategy to retire this debt was changed in September based on our declining stock price. We intend to continue working with the investment bank, but our current stock price may be an impediment and we are taking steps to stabilize and turn it in a positive direction. In the meantime, we are concentrating our fundraising efforts at our subsidiary level which will not have a dilutive effect on our public shareholder base.
Everything I say is in my opinion, do your own DD and make your decision wisely! Don't spend more then you can afford to lose!
