Leet Technology Inc (LTES)

[Sobek]

No problem. That's why I say they have roughly until mid Q4 to start showing steady improvements. If they can't beef up that bottom line by the time the notes mature, people will start to want their money back.

The Doheny loan was signed off on last November I believe and if I'm not mistaken, payments start next month on the interest so, if I'm not mistaken, we're still looking at the full amount owed as of today.

But in all reality, they don't have that much debt compared to the boom market they're in and potential revenue capacity. For the right investor, it wouldn't take much to consolidate it all along with an additional $1.5-$2 million stake to invest directly into inventory. $2 million would be an additional 5,700 units minimum.

But one of the lets say, opportunities I see, is even though a preferred placement would be ideal, it's not that attractive right now and the last thing we really need is say a $3 or $4 million investment through another common share purchase agreement.

I mean shit, we haven't even turned the float one single time yet plus we have enough SPA's weighting down the pps already. A fair SPA of that caliber would call for like 40 million shares at .10 or even lower and still wouldn't guarantee the company to be successful.

But you make an excellent point about how they took too much debt on at one time. And another point is they gave away shares like candy to get it... almost looks like there was little to no negotiating.

As far as a buyout, I've always said that is something that is very, very possible. But it's not going to happen until they can show some solid equity. Right now book value sucks.