BB's Stock Haven

[DD-214]

IMNR, FYI.....I sold my position today that I bought yesterday when Etrade wouldn't allow me to place a sell online.... that scared the hell out of me....... when I called Etrade they stated that there was a shareholder approved 100 to 1 R/S, they had no idea when it will go into affect but they didn't want to get caught off guard, hence all sell orders must go through a broker, at least for Etrade! I bought 1.5m yesterday @.0235 average and sold all first thing this morning a little above that. Like I said, take it for what it's worth!

I also found this by sublime......

Posted by: sublime
In reply to: Generalx who wrote msg# 87 Date:7/24/2006 6:24:53 PM
Post #of 143


Overview In March 2006, the Company completed an $8.0 million convertible note offering. The offering included 1.2 billion warrants at $0.02 per share that were intended to bring additional cash later in 2006. These warrants have a short-term, and have an exercise value of roughly $24 million.

The first traunche of warrants is exercisable until August 7, 2006. When exercised, these warrants can bring up to $12 million to the Company. At this point, approximately 333.6 million warrants have been exercised, bringing $6.7 million to the company out of the potential $12 million in proceeds into the Company. We forecast that the remaining 266.4 million warrants scheduled to expire on August 7, 2006 will be exercised.

The second traunche of 600 million warrants becomes exercisable on October 16 and expire November 30, 2006. When exercised, these warrants will also bring up to $12 million to the Company.

Potential Dilution The Company had 656.5 million shares outstanding as of July 2006. If all warrants from the offering are exercised, the shares outstanding could increase to 1.525 billion. If all outstanding convertible debt and warrants were exercised, the shares outstanding would number approximately 2.7 billion.

Investors should note that the Company’s shareholders authorized a reverse split at an exchange ratio of up to 1:100. This would be aimed at increasing the market price and reducing the number of shares outstanding.