Seaniemac International Ltd (fka BETS)

[SeaWA1956]

The LOC partner requires it in case of default on payments. Also, we may need the shares quickly for acquisition of private investor placement.

Remember, the key is no RS. They can't continue to dilute at this level and usually the only option for a company with no revenue or no product is a RS. But TEAM BETS knows we have real company and real product, so they feel Q4 cash flow positive is almost a certainty and thus toxic dilution not needed.