SaviCorp (fka SVMI)

[flsunchaser]

In the 10-K, they didn't even put in a guess when they'll be in production. But they are 6 months behind on their rent for Birch Street and could be evicted at any time, it says. Here's a few parts of the 10-K that caught my attention.:

We believe it is imperative that we raise an additional $3,000,000 of capital in order to implement our business plan. We are attempting to raise additional funds through debt and/or equity offerings....Any additional financing may involve dilution to our then-existing shareholders

We hope to continue to test our emission control device on select diesel engines in order to obtain certification and validation of our technology. However, we currently lack the financial resources to continue testing. We hope to obtain an Executive Order from the California Air Resource Board which allows us to legally sell our product in California. This will assist in obtaining contracts and purchase orders. The monthly cost for each product testing is approximately $60,000 and completion of testing should be accomplished in six to nine months assuming there are no delays.

our current lack of financial resources has caused us to fall more than six (months) behind on our lease payments and we could be evicted at any time.

we are in a negative working capital position of $21,311,694 and had a stockholders' deficit of $21,022,922.
______________________________________________________________

QUESTION: Where did 21 million dollars go? Somebody's got it.

FlSun