Flipper your conversation confirms a few things for me. There is no doubt he is diluting and diluting big time! You are the first one to say 600M, three others have said 500M. To be honest, here, that is a direct lie to what he told myself and others around Christmas and the first week of '07. I bet we are getting closer to 700M in O/S! His reply to the shareholders is the big fongooo! Tells so many he is not diluting,not diluting. This is a replay of the exact scam in 2005! EXACT!!!! That time they were considering an offer for $8,000,000 + to spin off the restaurants, uplist, working on AF's, not diluting, not diluting. SAME EXACT CRAPOLA!!!!!
Good news volume was so light today he couldn't dump in the final hour!!!!!!!!! Yesterday dumped almost 14 mil at .0011.
BAD NEWS. Been told Ed has 5,000,000 preferred shares. Thought it was voting rights only but now seem to have found out the preferred are convertible to common shares. Now the really bad news is Ed didn't know what the conversion rate is (preferred to common), wasn't sure...lawyers set it up...I'll have to get back to you kind of junk! The voting right conversation is 100:1 meaning he has 500,000,000 votes. Now a reasonable person might think the same conversion applies as well, meaning 500,000,000 additional shares that are his that are not included in the O/S count. Very sneaky and should be a cause for great concern for anyone still owning this.
More bad; He has told many of the shareholders who have talked to him that he has loaned the company $6-6.5 million. There was no accounting for that in the September 30, 2006 unaudited financials. That tells me there more than likely aren't any AF's. Any auditor worth anything would have caught that and the information would have been included in the AF's.
Oh, Angel had said the TA was moving January 12 and would be in their new offices on January 16. He knew it but the CEO didn't! LOL! Don't hold your breath for any TA ungag. It would take a 5 minute phone call and he has been dodging that question for weeks as well!
As you can tell quite ticked would be an understatement.
Bottom line is .0012 is better than .0005 or below. R/S is coming but he has many more shares he still wants to sell.
Sorry to be so blunt but all should know these things, Make your own decisions! JMHO!
Binzur
