do you suppose the lack of price movement
has something to do with the Convertible Notes that were issued on Sep 12, 2006? You might recall the notes were convertible at a value of .36939, very close to where we are stuck.
(Rocky - what's your take on this?)
If converted, the notes included warrants (A & B) that allowed additional investment at rates of 150% and 200% of market price, respectively.
Holding the stock price down, makes it less expense for the private capital investors to convert and exercise the warrants.
This is a list of the investors that agreed to the note for $1,075,000 in Sept of last year:
Hudson Bay Overseas Fund Ltd
Hudson Bay Fund
Nite Capital LP
Castle Creek Technology Partners
The Nutmeg Group
Brio Capital
Double U Master Fund
