Monday, August 19, 2013 8:14:13 PM
Is asked about the shares cap being raised by another 200m he assured me they aren't dumping them all on the market. He made a point to say that if money needs to be raised they want to make sure they have enough shares to give to creditors if money needs to be raised.
He also said they were able to pay off their debt early and were able to negoshaite a better deal. But e couldn't give any details.
He also said the Vmatter situation is being taken care of and will be complete shortly. It is being done under a licensed company something like that.
When asked why he bought shares he said he couldn't say too much but he felt like he wanted more shares than he currently had. He also noted he can not sell his shares for 6month after the day he bought them. He is locked for that period. 118 more days I believe.
He said the CC was early this Q because they are trying to be more timely and are working hard to get things done in a more timely manner and that should be looked at as something positive.
He also said all of the shareholders that had perffered shares have switched them all into common shares a few months ago all by choice. They chose to make them common shares and there are no more perffered shares all the investors made them into common stock.
Just thought everyone might like to hear what he said.
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