Drinks Americas Holdings, Ltd. (DKAM)

[duke00324]

...carl, what does "the economic state of world business came to a virtual standstill over the last quarter" have to do with fulfilling NOT one goal or objective the past YEAR?...

...Oh,I'm sorry...they closed the Olifant deal, all the while creating a default on their existing line of credit...

**MAN!, haven't we seen THAT one twisted around more than Dorothy!**

...that's right, they DEFAULTED on their existing line of credit...

...from the Feb. 10, 2009 8K :

"Item 10.01 Entry into a Material Definitive Agreement
The Company has modified the terms of its credit facility with Sovereign Business Capital ("Sovereign"). Pursuant to this modification the credit facility will be due April 3, 2009 rather than June 2, 2009 and in order to reduce our fees on the unutilized credit line, and at Sovereign's request, we changed the amount we can borrow to $300,000, which is approximately $200,000 more than was outstanding on the date of the agreement. The Company is discussing replacement financing with several replacement lenders. ...

...this due to failing to get consent for the deal...of course most pumpers here have translated this as "good news" while ensuring all of us that the company DOES have a plentiful credit line available despite what the company has filed in their past two 10 Q's...

...NOW they (and you shareholders) are now paying 1% every 10 days for the Olifant loan...

...if there's progress hidden in there captn, please decipher it for us...Duke...