axiom, Roger Gale DID say that they had converted some of their shares in CC of shareholders meeting. However no 8K verified this.
Why not?
My guess is that the PIPE investors decided to "HOLD OFF" converting their $ .08 and $ .11 shares until at least
1. They have some shares registered for sale. Holding over a 100 million shares now that they are unable to sell yet. Why add more now?
2. Some good news shows up which increases the value of their shares.
i.e. SFDA approval, reasonable sales, new distributor for UAE, longer shelf life, and management to join board of directors, buy stock at market prices, and work for a percentage of profit instead of large salaries. (TIC on last part)
Management in July 2007 predicted sales of 4.593 million in 2007 with a resulting 5 million dollar loss.
What percentage of the 4.593 million in sales did they actually achieve?
My guess is in 20-25% range.
In any other company this "RESULT" would lead to a wholesale management turnover. Don't look for that to happen here.
Company in back pocket of Marr and new Arab investors with no oversight by anyone else.
IMHO only of course.
