Bourque Industries Inc (BORK)

[was marketcap]

No. It means they committed to 7.5m (or 1500 of the 2000 preferreds registered) over the course of years.

"The first Closing occurred June 5, 2013 in which the Company received $55,000. Each subsequent Closing will take place on the first day of each calendar month thereafter or sooner, at the Company's option if certain conditions set forth in the Stock Purchase Agreement are met."

Basically, Ironridge is buying 11 @ 5,000 preferreds a month. A very conservative approach which I think is smart.