Just to keep an update going. I have not yet received info/answer from Kurt regarding REDG defaulting on a convertible note or not paying invoices for product or services. I have read the conditions of issue for a GEL note and it seems as if REDG has met the conditions for default on that note. So, to be clear, I cannot make a determination if this has occurred only that it should have according to the terms of the issue and collection. The terms of these convertibles are much worse than I had thought. Toxic is not a word I would chose to use-it's more akin to poison. If you don't believe me, you don't have to-just read the terms of the note. Who honestly runs a business like this?
Onwatch hits on a valid point concerning announcements, deadlines, projects,etc. Whenever big projects are in the making or are being put together there is advanced word. Now, I understand that Mr Powells word of 'Big News' was only made a month or so ago...so we wait.
I believe there will be no Giant Size-it will be pushed back, then again, and again, until there will be no word and it will be,'forgotten'. If it ever did come out it will be so limited in size and scope that it would be a drag on revenue and no help to the bottom line. Likewise there is also no, 'Big News', at least not the way we expect as our idea of 'big news' differs substantially from Mr Powells idea of same.
I wish I was mistaken but I don't believe I am. If there was incoming revenue and if REDG had already secured the advertisers for the giant line...why would REDG need more convertible notes that stretch into 2015? Why borrow money on such horrendous terms if money is coming through the door? It's because guys, there is NO INCOMING REVENUE.
Is someone going to actually tell us that it takes 18 months to negotiate ad's to put into the back of comic books? Well it sure does not take that long to negotiate then sign a contract regarding putting these things in place.
We were all hanging onto the next annoucement, the next big thing, speculated about this twitter post or that.
Mr Powell it is time for you to put your cards on the table so to speak. It is time for YOU to speak to the people who have funded and are funding REDG up to this point. No more BS news, no more 'Big News Soon', no more, 'lawyers are talking'...sorry sir, it does not take that long.
