BEHIND ALL THE EMOTIONS Let me explain why I still have lots of confidence in this company and willing to wait 2 or 3 more years. I already talked about the PowerKeep connection in an earlier post, so I won’t be doing that today.
As of Q3 of 2017, we know that Boone had invested a total of 9.01 million dollars in the company of which 69 percent or a whopping 6.2 million had been converted to 1.55 billion shares of common stock (see Q3 report, pages 24 and 25). That is a daunting move by an insider, for a company that non-insiders with very little information are speculating will go bankrupt. I have heard people in ihub say funny things like “Boone has protected his investment, in the event of a bankruptcy he will get his investment back”. No he won’t! Not under SEC rules, otherwise someone would go to jail. Only Boone’s 2.81 million dollars in preferred shares were protected as of September 30. The other 6.2 million dollars in common stock is unprotected and just as risky as our own investments. So it gives me a lot of confidence that an insider with all of the information he has about the company, would opt to put 69 percent of his money in unprotected investment in the company.
It gets even better. On January 30, 2018, ASTI had 9,937,480,079 outstanding shares and 8,016,048,320 were held at DTC, meaning that 1,921,431,759 were held by insiders – mostly by Boone of course. On January 31, the outstanding shares increased by 404,411,765 to reach 10,341,891,844, but held at DTC did not change. I have been looking up those numbers every day since January 31 and held at DTC has not changed. It tells me that the entire 404.4 million share increase on January 31 was due to insider buying. We know who that insider was; Boone has obviously converted another 1.6 million dollars into more than 400 million shares of common stock at a fixed conversion price of 0.004 (I want to believe the fixed conversion price has not changed because changing it would contravene SEC regulations as the rest of us have not been informed of any change in the insider agreement).
So let’s do the math; as of Jan 31, Boone now has $12 million in the company per the February 2017 agreement to invest $1 million per month. At least $ 7.8 million of that have obviously been converted into unprotected common stock while only 4.2 million dollars is protected as preferred stock.
Therefore, if you are one of those saying that this company is going bankrupt or that a reverse split is coming, what you are actually saying is that Boone is an idiot, and that he was an idiot as recent as January 31. Think about that.
