Saturday, August 23, 2008 4:23:41 PM
I have seen companies with a revolving line of credit that is tied to receiveables with a term and set interest rate. However the payments are made in shares which are converted at market prices. If this was say a fully reporting company listed on the otcbb you would be able to see sec filings stateing the nature of the financing. They are not, they are a pink sheet listed as limited information available with a cautionary flag
I'm not saying that for sure this is a convertable loan, I'm saying that all of the indicators are present.
The dropping share price, the increase in a/s, the paid promotional venues, the press releases with glowing promise that then changes due to "unforseen" millions in future revenue.
I shall return to the sidelines for now, to wait to see what happens. I will say if you believe a word that a pinksheet CEO say's you are asking for it.
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