Carl i'll tell yaw, you've sent me on a near all day search through the SEC files trying to find the "Equity financing agreement" you mentioned, and after reviewing the files i can not find any "agreement" of this nature..
As i recall it was the 'intentions' of the new GTEC to obtain additional financing and placed a certain amount of shares in reserve to acquire said financing, but there's no 'requirement' for this to occur as you're stating here.. That is, not that i can find within the SEC files..
The shares placed in reserve, moreover, as I understand, while may be used for financing, if needed, also ought to help shareholders feel more secure that this reserve is not targeted towards dilution or public sell off.. A typical worry for new investors of a new merger, although most shares should be restricted from sale anyway..
I do not see where or how, that is, the merger transaction would require or have a mandate to obtain financing with shares as it is.. The old company could not make demands of this nature unless it was in their interests to capitalize from this type of 'required' financing..
The old company and members already have built-in imbursements which are completely separate from obligations of equity financing..
From what i see the only thing that's happened or was said is; a certian amount of shares would be placed in reserve for future finanicing..
BTW I bet a lot of people who are looking into GTEC currently are being baffled by the Jan 18 2008 sec earnings report, reflecting the old companies business and have no idea it has little too nothing to do with the current GTEC and should be looking at the October filings.. For understanding of GTEC pharma verses GTEC Tech..
Corn-fused-us Long-vestor ancient saying: Patience and small movements keep a steady course.
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