WARNING**CEO JAMES KELLY MOBILE ALERT HOLD was a bullshit post!! I repeat the alledged email was a bullshit post!!
Whoever keeps posting this cr*p needs to be shot, if it is true then the CEO needs to be shot for running his mouth. I have read all I can and I can't find a 1 year agreement anywhere, yeah they sold a lot of shares @.03 to get financing, this is normal. PLRS had news this morning about $8 million in financing @.0125 (1/3 of PPS)
SHOW ME THE LOCKUP AGREEMENT!!!!!
In connection with the Merger, on February 14, 2006, the Company also completed a private placement of notes and warrants to accredited investors pursuant to which the Company sold an aggregate of $2,350,000 principal amount of notes convertible into 78,333,332 shares of Common Stock and Warrants to purchase 39,166,667 shares of Common Stock at an exercise price of $.06 per share. On the same date the Company completed another private placement of $1,563,500 of Series 1 Preferred convertible into 52,116,667 shares of Common
Stock and Warrants to purchase an additional 26,058,333 shares of Common Stock. After fees and expenses of approximately $592,000, the Company received net proceeds of approximately $3,321,000, from the private placements.
The only other Agreement is @.01 but it is from an Officer that would have to file a Form 4 to sell shares. This is BS in my opinion.
They sold $2 million in shares to finance ongoing operations and the idiot that told people this about the 1 year agreement caused a panic.They could have sold their shares at any time from what I can see!
If I am stupid then please show me, it wouldn't be the first time. Put up or shut up please!!!
THIS WILL GO BACK UP once people realize some bonehead caused an unnecessary panic. GLTA
