On4 Communications Inc (ONCI)

[Breezerunner]

IMO...

Steve announced he was going to start the process of reducing OS back in Nov 2016. This was just after purchasing 49% of Cogosense. A few weeks later, he started on a sales trip to pitch bSafeMobile. He quickly realized the growth potential. He knew that if sales exploded that funds were required to grow. Realized he had a product that was prime for future buyout and debt needed to be cleared as well. Anyone watching ONCI knows that sales took off over the next 9 months. He truly wanted to keep his promise to shareholders and win shareholders trust. Convertible debt was paid down, but he kept dilution as moderate as he was able. Was able to purchase the remaining portion of Cogosense. Now, in a show of loyalty to shareholders he retires half his preferred shares and will follow with the remaining in 30 days. More reduction to follow. His structure goal will be to add shareholder value, keep his full control, and maintain his equity in the future of ONCI.

If Steve had failed over the last year to grow ONCI, then I'd be questioning the delayed promise, but in light of what the growth needs were, the current pps, and the revs he's been able to generate, I'm content with his time table.

$$$$$ ONCI $$$$$