Now I'm not a Certified Financial Analyst but I'll do my best to answer you directly and publicly to the best of my ability...
But first off, why would someone with your handle of "detective" ever leave the HEMP forums to come try to poke holes in our business when there seems to be enough mystery in their world to keep a whole Scooby Gang of True Detectives busy for many seasons? Has me a little stumped.
Regardless.. the increase in authorized is to serve two functions.
1- To cover the legal obligation under LIBE's converting notes which require us to maintain at all times a reserve of five times the balance of the notes at a 45% discount to the lowest closing day price on a 20-30 day look back. In all cases these amounts are well above the value of the note, and is just there as collateral. As the share price drops, their reserve requirement goes up. These shares are not issued, as the TA only issues what is being converted on that day (under 4.9%). Once the loan is repaid thru the selling of their stock, whatever they hold in reserve has the hold released and is available again in our authorized. In short, if we do not have the authorized shares available for reserve we will be sued and it's game over.
2- We also need shares available to perform business, as in, the reason we're a public company. Acquisitions of other companies comes to mind - trucking, manufacturing, other products - to use a few examples.
Now, you seem to have a knack for asking questions and then making statements that kinda answer yourself without seeing the obvious - kind of why Sherlock needed Dr Watson, to point out the obvious that his brilliant mind would over look by trying so hard to solve a puzzle....
The 14C was filed on the 13th. We have 10 days to wait for a response before filing the definitive 14C and do our mail out. I'll play Dr Watson here and point out that the 10th day would fall on a Saturday, followed by a National holiday on Monday, effectively making Tuesday our 10th day. On the next day, Wednesday, we will do our mailing. We do not have to wait the 20 days for a response as I hold majority vote at this time. This is a good thing as I'll be able to honor the reserve increases and avoid legal ramifications.
Now, in response to your work in trying to build your own Guard Lite - kudos!! You added up a handful of components and came up with a figure that completely missed a few - I'll give you one clue - galvanized steel pole. You're welcome Detective, there's more- go find em. Riddle me this though - Most people know how to make a pizza, but there's a lot of places selling pies. Why is that? Our closest competition charges over $8,000 and doesn't have a camera. Our most expensive is $18,000 and doesn't have a wind turbine. We have an amazing gap in the market to fill.
I'm just having fun with you - enjoy the day off tomorrow and thanks for the support.
Brian Conway
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