More Cyclone BS spin:
Quote:
if you read the past release about settling judgments and reducing debt by over 40%.
From the last 10Q:
CURRENT LIABILITIES
Bank Overdraft......................................................52
Accounts payable and accrued expenses........................1,972,091
Accounts payable and accrued expenses-related parties.....796,475
Notes and other loans payable-current portion...........457,832
Derivative liabilities.................................................1,162,397
Notes and other loans payable-related parties.........384,652
Capitalized lease obligations-current portion..........5,522
Deferred revenue and license deposits..................173,826
Total current liabilities..........................................4,952,847
That claimed 40% reduction is only on the "Notes and other loans payable-current portion", which amounts to less than $200K reduction in total debts. Total liabilities will only decrease by about 4%.
Not to mention that Cyclone still has no working products to sell. The new scam, solar power, is now going to be waiting on a totally new engine, the Mark 10.
The only thing they've got to sell is more shares. Count on massive dilution to continue unabated.
Oops. Forgot about the secret investor whose going to give them $5 million for 20% of the company that they could buy on the market for less than 5% of that amount. Fruge is outdoing herself in telling lies to investors.
