Tuesday, March 31, 2015 9:56:13 PM
She deliberately misled investors. Especially in light of the fact that the filings revealed that sales were negligible to nonexistent.....certainly not able to pay off the Asher note. If you give her the benefit of the doubt and say that Melton really intended to implement a share buyback, but then "plans changed" and she changed course and instead implemented a 750 for 1 reverse split just days after PRing a share buyback.... It is undeniable that "better than expected sales" had nothing to do with paying off the Asher note.
That note was paid with the proceeds from the next convertible debenture.... Which has been the basis for every subsequent note that has been retired since. Sales haven't paid for anything.....just borrowing.
The fact that today's announcement mirrors every other PR about retiring convertibles is telling. It doesn't matter if OWOO really, really, REALLY means it this time! Pinkie promise!
Or are we just celebrating the fact that OWOO's debt keeps growing, they just get better terms these days? Despite the fact that the terms won't be disclosed?
It was never about the dolls.
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