ICTY Form D
Well first off, a company can raise $1 million during a twelve month period from the first sale date. This is dilution, but that's okay given all companies go public to raise funds, they are just showing you how much was sold/raised.
However, there were two Form D filed today
One stating first sale 9/29/09
for $10,000 (won't tell you number of shares or the discount the 504 financier received)
on the second filing it states new filing and first sale was 10/5/09 (that is a problem). it can't be a new filing; because a filing has already started 9/29/09. it should have been filed as an amendment.
reducing the $990k left on the initial filing down to $965k remaining.
kinda sloppy in paperwork.
-------
it is nice to see they filed it relatively close to time of sale; however 504's can get discounts of 30-50%, so my guess you will see continued sale into a rise in PPS, not sure enough to keep PPS down, unless they really do a very large chuck all at once (like hundreds of thousands of dollars in 504 financing)
Do your own due diligence; factors and conditions can change daily
