Wow did anyone here actually read the R/S filing?
From the Filing:
Purpose of Reverse Stock Split
The Board of Directors is being effected so that there will be a sufficient number of authorized but unissued shares of Common Stock for the Company to continue to issue additional shares of Common Stock upon conversion of, or as payment of our monthly amortization payments of both principal and accrued interest on our outstanding $3,000,000 Secured Convertible Promissory Notes due December 13, 2008 (the “Notes”).
I mean they spelled it out in black and white. They screamed "We are going to dilute this stock even more to pay for our debts"
I can't speak for others, and you have to make up your own mind, but I don't think I would want to be in a stock knowing that information. Couple that with the fact that they made less gross revenue 1st qtr this year compared to last year is a recipe for disaster.
Please do your DD before you buy this.
