Coretec Group Inc (CRTG)

[razorback74]

new 10Q for 1st quarter out.

460,228,564 shares o/s as of may 15th. That's up 42,000,000 shares since the 10K was put out Mar 31st or less than 2 months. At this rate, they will exhaust the 750,000,000 by the 1st of Apr next year. And that doesn't include what they owe in debentures to GG listed below.

no revenue from pixel this quarter, no suprise there.

received just over $10,000 from ocast

Still owe OU over $500,000

still owe GG $463,000+ on second debenture.(with all the new shares issued this year, none have gone to this and its due sometime this year. At current pps, that will mean if pps stays in the .003 range, GG will be due at least 153,000,000 more shares this year sometime) this alone will push O/S to 610,000,000. This doesn't include the 4.25% debenture that could equate to 1-2billion more shares..

In short, the company is still in the dumps, oh, they still owe O'connor's law firm $100,000 that was due at the end of sept of 09. Oh, yeah, they couldn't pay it. But they agreed to give them 1,000,000 shares to hold of on default. As I read, it wasn't really a new loan, it was to pay off debt to them for the past couple years. Guess the lawyers aren't getting paid either, don't want to make them mad.. So that $100k would amount to about 33,000,000 more shares, if they have to sell stock to pay them off.

Any takers for this Gem??