If Carl gets the boot.....I wonder if it's just a resignation letter....as far as the pr is concerned....from the filing
On October 13, 2009 the parties to the Purchase Agreement entered into the third Amendment to the Securities Purchase Agreement in which the parties agreed that in the event that the Second Closing fails to occur and VIASPACE’s closing conditions to the Second Closing have been satisfied by Chang, then (1) Chang and/or his designees shall retain our Shares, (2) VIASPACE shall transfer all shares of our common stock it holds to Chang, (3) Chang will deliver the remaining 30% equity interest of IPA-BVI to us, such that we shall receive all equity securities of IPA-BVI
It's interesting this amendement was on 10/13....wasn't this in the middle of the DP CleanTech hype?....why would they need this amendment at that time about failure to close?......was the handwriting being written on the wall?......also from the filing
Our future growth prospects may be affected if we are unable to obtain additional capital.
While we believe we have sufficient cash for the next 12 months, we may require additional cash to grow our grass business. The sale or issuance of additional equity securities could result in dilution to our shareholders. The incurrence of indebtedness would result in increased debt service obligations and could result in operating and financing covenants that would restrict our operations. We may not be able to obtain financing in amounts or on terms acceptable to us, if at all. We may also not be able to secure or repay debt incurred to fund operations. As a result, our operating results and financial condition may be materially and adversely affected.
The way this reads...Dilution is not only the answer to paying Chang....it's also the answer to growing the grass biz....
OH BOY OH BOY OH BOY......pull a rabbit out of your hat Carl.....no worries though....it can only drop 1.6 cents.....
GLTA
