"During the first quarter, the Company reached an agreement with a debt holder exchanging a $1.2 million convertible promissory note for common stock purchase warrants at $.25 per share, effectuating a shift in debt to equity. With now less than $1.7 million in overall notes payable, the Company has taken a significant step forward toward improving its ratio of assets to liabilities, reducing its debt service, and improving its overall financial metrics."
For some who may think this is a lie, it will show up in the next quarterly statement.