e.Digital Corporation (fka EDIG)

[owd3]

I think what is probably going to hurt the most is no follow through on the representation that the latest "financing" was to close an OEM. Even thought the official SEC filings clearly stated that the monies were going for day-to-day operations of the company, many fell for the suggestion the financing was going to land a big fish.

If one were to understand that this company has a working capital deficit of a couple million dollars, the thought that the latest financing would make a difference to an big name OEM is laughable.

I think the fact that they had to back peddle from using the money "to land" a specific OEM to their new line of "we needed to show OEM's we are a viable company" probably will have the biggest impact of anything said during the meeting.

With this shift, the lousy financing, and more shares about to land, I think it is more than clear there is no big revenue stream in the pipeline.

EDIG did give a hint to that effect in the last 10-K when they stated that even with all current relationships in place, and clearly GW was one at that point, they felt they would still need to raise money to cover their operating cost and repay debt for most of next year.