cal-law, you made an error in your interpretation of the term "out of the money". That is a standard term used when describing options or warrants that are priced above the current market price. Tinroad made the same mistake in an earlier post, but the moderators were kind enough to delete his post to save him further embarrassment. Perhaps the moderators will extend you the same courtesy; you might consider asking them to delete your post as well.
But to answer your question about EDIG's financial situation, from the latest 10-Q:
"At September 30, 2003 the Company had a
working capital deficiency of $1,927,425.
And while they did have $380k in cash left, it is only because they BORROWED it and stopped paying their bills. If they had kept current on their notes, they would have been completely out of cash by now. So I don't think saving money by not paying your notes is a strong point for a business. Maybe you see it differently.
