Mr. Bain issues himself and the Fuldas preferred shares then declares we might need a reverse stock split of our common shares.
2/13/07 DEF 14A:
"to amend our Amended and Restated Articles of Incorporation, as amended, to authorize the board of directors to effect a reverse stock split of our common stock in the range of 50:1 to 150:1, as determined in the sole discretion of our board of directors".
Mr. Bain has ~16M shares of common stock but he seems to be accepting preferred shares recently as compensation for loan repayment.
"If the Board does not implement the reverse stock split prior to our 2007 annual stockholder meeting, the authority granted in this proposal to implement the reverse stock split will terminate".
DID WE JUST HAVE OUR 2007 MEETING ON MARCH 5???
IS R/S PROPOSAL, IF APPROVED @ MEETING, TERMINATED???
All statements are my own opinion, expressed by a relatively novice investor. Do your own due diligence & verify posted information.