We must have read different 10-K's. The issuance of almost 3 billion common shares pursuant to toxic death spiral conversions barely put a dent in the current debt. And the Company still has current liabilities of more than $19 MILLION greater than total assets.
The Company is so broke, LS had to take ANOTHER $80,000 debt note from YA, which is due next week. That was probably the money he needed to pay the auditor to do the 10-K (the timing is not a coincidence), which is why it was so late. And the money needed to pay a lawyer to draft up the proxy for the forthcoming reverse split.
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