GUYS I AM IN WITH 1 MIO SHARES READ have bought it on thursday at .01,i have done some extentive DD on this at this point of time there is nothing much to cheer about this but i have taken a long term vies considering the company has just settled with with of its lawsuits and,have appointed a global IR firm to craete investor aware ness.
The last 2 PRs have just come in the first week of march that means i expect some positive developments in the coming weeks.
Yesterday the Bid and ask went up after long time .115 X .139.
read the below paragraph from last 10Q
At September 30, 2009 we had negative working capital of ($4,834,659) and incurred net losses of ($293,864) during the three month period ended September 30, 2009 and ($766,589) for the nine month period ended September 30, 2009. Our operations do not currently provide sufficient cash flow to meet our obligations. We believe that our operations during 2009 will not provide positive cash flow and that we will become cash flow positive in 2010. We believe we are able to restructure or meet our obligations as they become due during the coming months while we move toward positive cash flow. However our company is highly leveraged and we have approximately $3.287 million in debt which is in default, so there can be no assurance that revenues from operations and/or common stock sales will be sufficient to fund our current business plan.
As it mentions cash negative but hopes to be cash postive in 2010 and the default which it shows with lender i believe the last 8K mentions the same lawsuit settled and will possibly get additional financing of 2.7 Mio.
So guys with existing revenues,hoping toturn cash positive,and a low floater i believe this is surely a 25 bagger from here in the possible coming 2 quarters.
Cheers GLTA
