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[Stock Lobster]

SRGLE: the more I read the more interesting (and sad) the story is.

J.T. Lin, the PhD who created all these laser devices screwed up by getting involved with a pump and dump scheme on his own stock, and basically ended up having to sign over all of his patents to 'the company' in return for agreeing to quietly slithering away into the shadows. He hasn't been that good at it, though, and apparently has been contesting ownership of some of the patents, and spitefully allowing others to become abandoned, rather than see his former company take control of them.

At that point Collete Cozean became CEO. She was highly regarded in the industry, and was seen as a someone who could turn the company around. She came in with her team, but the problem, from what I can tell, is the company was already in the grips of GEM financing, a PIPE/so-called 'venture capital' company.

I think they'd been unhappy with the management for a year or two, as seen in the 2005 10K. Seems like they wanted the company to start diluting then to cover the convertibles, and when they didn't the GEM guys wanted to remove the directors:

http://209.85.165.104/search?q=cache:xj5QeE6EAlIJ:sec.edgar-online.com/2005/11/14/0001070289-05-0000....

Anyway, back to the most recent 8K which basically outlines three main points. 1) The resignation of the previous management team...the CEO and her hand picked team are out. Pressured out, I believe. 2) they've obtained new funding but at quite a cost: GEMs has all of their patents and copyrights as a lien and 3) the company has granted to GEM 55% of the company, plus the ability to appoint the board of directors, basically meaning that GEMS has taken over SRGLE.

So, given that there was mention in the 2005 10K of how certain parties felt that a 'potential acquisition' of surgilight was in the shareholders interest, and what was preventing it was the difficulty of removing the existing board of directors in Florida...you gotta wonder what they're going to do now that they own the company.

You see, the more I read up on the surgilight procedure, I realize it could be as big as lasik. It has huge potential around the world, plus in the united states.

At the heart of this .01 stock are these patents that slick players have been trying to get their hands on for a few years now. These GEM guys are slick, Wharton MBAs, senior Venture Capital people. Now, they basically own the company, and are one default away from owning the whole shebang.

I think they know what they've got their hands on....and I wouldn't be surprised if there is a acquisition partner already picked out.