I'm not sure about the 1 remaining CD holder, however, the note below caught my interest...
It isn't a loan, however, it's more dilution (350 million shares). The last 2 bullets is effective even today, the other effective 11/4. Without much cash or a line of credit to pay their suppliers, this move does not at all surprise me.
"As of February 4, 2004, the Company has received approximately $1,098,000 cash as a result of the Company's Option holders exercising their options to purchase shares of common stock.
- On November 1, 2003, the Company granted an individual the option to purchase 200,000,000 shares of common stock at the exercise price of the average closing price for the three days prior to exercise less a 40% discount. The option is exercisable commencing November 1, 2004 and expires after January 15, 2004.
- During December 2003, the Company granted an individual the option to purchase 50,000,000 shares of common stock at the exercise price of market value at the date of exercise less a 40% discount.
- On January 28, 2004, the Company granted Pangea Investments GmbH the option to purchase 100,000,000 shares of common stock at the exercise price of market value at the date of exercise less a 50% discount. The option is exercisable commencing January 28, 2004 and expires after January 28, 2014."
AI
