On4 Communications Inc (ONCI)

[tigerpac]

Berman has only a few options left to recoup his money (25 million preferred shares , outstanding loans, commissions, and deferred salary).

1) increase authorized shares from 5 billion to 10 billion.

2) reverse split 1:100

3) convince someone to buy his company, reverse merge with them and (con)vince them he is worth something .

Writing off all those “sales” was the simple reason he couldn’t borrow money from a bank because if you are killing it with millions of $ of sales per year, a conventional loan would have been very simple. Any bank would have seen there were very little sales though.