was asked how many more shares need dumped? in an email he also commented on the nice news of the press release.
Thinking that all of you deserve the same information all of which can be determined by reading the 10-K year ending June 30, 2017, I am posting my reply below:
Glad you appreciate the 10-K results for fiscal year ending June 30, 2017. We are proud of the advancements that we have made this fiscal year but aim for higher results and our first year of profitability this fiscal year.
I did notice that the links in the press release sent out on October 26th did not all work so here is the link of most importance: http://freedomleafinc.com/2017financials
As to dumping shares, we have no idea as to who is selling shares into the market. We also think they are making a mistake and that this is probably a good time to buy FRLF Clifford Perry, the CEO, and I, Executive VP, have not sold any shares that we own in Freedom Leaf Inc even though we are allowed to do so according to SEC regulations. We can each sell 1% of the outstanding shares. And a report will be available as to any sales that we would make.
We also have taken very little of our salaries in cash. If you review our 10-K dated June 30, 2017, you will see our salaries are below most senior executive salaries and that they have been accruing. We have been converting our accrued salaries into Freedom Leaf Inc stock because we strongly believe in the company.
Anytime we would sell stock we will file the required document with the SEC that would be available but our intention is not to sell any stock until it is considerably above twenty-five cents and even then only sell a very limited amount. Both of us are planning for the long-term growth of Freedom Leaf Inc.
If the company were to sell stock into the market, it would be through a registration with the SEC because otherwise shares sold by the company would be issued with a restricted legend. You would know far in advance due to the SEC registration requirements.
Raymond P Medeiros, Executive Vice President