JonPro,
Those are some fairly good questions. Here are some that are even earlier in the DD process that still need solid answers:
Perhaps oneinamillion will be able ot send these to Jared as well. It will be interesting to see which of these he chooses to address.
1. Are the 300 million shares set aside at the start of the buyout process still held separately and not in the float or free trading etc?
2. Is the $2 million related to the buyout still in escrow and with whom?
3. When will Q1 financials be released? Can you tell us know what is the amount of money from accounts receivable at the end of 2008 that has been collected YTD?
4 How many preferred shares are outstanding and what are the conversion rates and dividend provisions on them?
5. How are the formulas being valued and when they were sold into the company, who got paid for them and what amount?
6. When you issued 450,000,000 shares in 2008 to the original lenders what time restrictions were on them and exactly who were the original lenders, how much did they lend the company and what, in addition to these shares were they paid?
7. Who was it that supplied equipment to the company that got paid a large number of shares (approximately 100,000,000) in late 2008 and what equipment was it that was supplied?
8. In the same letter to shareholders you indicate that an unnamed person/organization was being issued 200,000,000 shares. Can you please name who that was and the restrictions on those shares if any?
Questions 6, 7 and 8 clarify ownership of nearly half of the O/S shares and it would be nice to see who has a vested interest in this company as well as the ability to move large blocks of shares at huge profits even at this trading price.
