Andalay Solar Inc fka WEST

[royallen]

imo you have not read the agreement between Southridge and Andalay.


Southridge does not have any more shares than are released at the discretion of Andalay. Southridge pays for the shares they get at the time they get them. The total dilution if and when all of the shares are released is about 35%.


Under the December Equity Purchase Agreement, the purchase price of the shares to be sold to Southridge will be at a price equal to 90% of the lowest closing bid price during the Valuation Period. The table below illustrates an issuance of shares of common stock to Southridge under the December Equity Purchase Agreement for a hypothetical draw down amount of $50,000, assuming the lowest closing bid price during the Valuation Period of $0.0179 per share.

Draw Down
Amount

Price to be Paid by
Southridge 45,000

Number of
Shares
to be Issued 2,513,966