Tuesday, August 25, 2015 11:46:47 PM
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10863627
Here is Steve's reply to the dastardly deed I posted on this board that week:
-------Original Message-------
From: Steve Richey
Date: 8/13/2015 12:22:40 PM
To: xxxxxxxxxxxx@charter.net
Cc: 'Gary Burnie'
Subject: RE: Investor Question
Hi xxxxx
To meet the requirements of the existing convertible debt holders and the reserves they required (typically 5-10 times the stock needed to cover the convertibles) we estimated we were going to have to increase to a little over 1,000,000,000 shares authorized . We were already getting nasty letters and lawsuit threats from the convertibles because of our lack of authorized. Because of the cost (about $10,000) and time involved (4-6 weeks) we decided to increase it to 5,000,000,000 so if we missed our estimate by even a few thousand shares we would not have to come back and do it again.
At this time our primary focus is getting out of the convertible debt, and working our business plan. We have fired the consultant that got us into this convertible mess and are exploring other ways to bring in funding that is not toxic.
I don’t normally take time to address these type of emails because I also design all of our products and every minute spend on these type of emails and calls means the companies goals are extended the same, but I felt this is important. Neither myself or any of my original group is or has sold any stock nor do we intend to. In fact I work for a salary that is 50-70% less than what I could make on the outside.
Thanks for your support
Steve Richey President
4Cable TV International, Inc.
OCTQB:CATV
1256 Highway 501 Bus, Conway, SC 29526
843-347-4933
www.4Cable.tv
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