"And the debt, went from 16 million to 8 if you read those filings as close as you say you do you would have seen that."
JA...that voodoo reduction of debt was previously explained on the board but I guess you missed it at the time? No one knows whether it was an intentional attempt by ECOS management to fool shareholders, or an honest accounting error??
Deal-Guy has explained it very well, again...read below.
I accept your apology... EOD
"The real debt of ECOS isn't $8m. The $2m derivative liability is only real if the notes are paid in shares. The real cash debt was $6m and has been $6m for a while.
The increase to $16m (with a derivative liability of $10m) was an error in their GAAP accounting and their correction back to $8m (with a derivative liability of $2m) was intended to correct that error."
Please help save the earth. It's our only source of chocolate.
