e.Digital Corporation (fka EDIG)

[hollywoodhills]

From the 7-1-04 press release... "Closing $1 million note financing to support growing OEM/ODM business" With the year nearly 3/4 gone and not one single new product released this year..The real translation of that sentence from the PR should read..."Since we totally have failed in our duty to our shareholders by bringing absolutely no new business (other than the IFE device reorders) to the bottom line this year..We are forced to borrow a million bucks at loanshark rate interest rates so we could pay our worthless salaries for a few more months, and make our hardworking shareholders investment reach a lingering multi year low because of our lack of skills to close any deals." And that is sugar coated...

HH