Thursday, April 08, 2004 8:30:29 AM
Your comments below are the REAL issue shareholders need to be concerned about - $ or funding to run the business coming from Dutchess will cause continued dilution and a probable need for a stock reverse in the future to reolve the financial structure issues. Dutchess is in the business to make $ and they are probably an ongoing to seller as they do not want to get left holding the bag should the company not make it based on their precarious position as an ongoing concern.
You said: "You are right on all counts. Kelly did state that he didn't feel Dutchess was the reason for the selling pressure, that Dutchess could be a "partner" well into the future and if you are saying I don't believe Dutchess in NOT selling they you would be right again... because I DO believe they are selling. If the conversion shares are restricted I would be wrong. If they are not, and they got them at .075/share average, why would you think they would not be selling off a portion of the 2+million shares they got for their funding? They are in business to make money, are they not? So why would you think they would not be selling? I do. If it were me, I would. It is that simple.
When the transcript is available you can check the actual wording but I believe Kelly said he had had "dialog" with them in regards to a secondary financing arrangement. What does that mean to you? To me it means new money in (where does Dutchess get their money from? I assume my selling shares from past deals and reaping the profits then plowing them back in to another financing deal with the same or different company) ... (cont.) new money in and a secondary means to me issuing treasury shares as in a secondary offering ie dilution."
These are my personal comments, observations, opinions and should not be relied upon for any investment decisions, and as always read the SEC filings for the facts of the company
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