PIPE? Do you have a link or is that your own personal opinion? <a href="http://pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=16583" target="_blank">http://pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=16583</a> Q2 2008: "The Company has not issued any options or warrants or similar securities since inception."