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Friday, June 04, 2010 12:10:34 AM
No one is going to accept worthless shares for money owed. That being said,they would have probably also wanted a written guarantee or at least a verbal guarantee
that there would be no RS. If there are only aprox 40 shareholders of record, and a few of them holding large blocks lnstead of cash owed them, why would they RS us? Makes no sense.
Someone posted awhile back that this company had figured out a way to combat MM's short selling,(dilluting with fake shares). Counterfiet shares could not be issued because before anyone (MM) could do that to this company, the company issued REAL shares, plenty of them, and used them to convert debt. Google counterfeit shares, cellar boxing, desking, etc. and you will have a better understanding of what that poster was trying to explain. I agree with him/her 100% as I came to the same conclusion months ago. While everyone balks at the OS/AS it just might be the best thing this company could have done and other companies IMO may follow so I am watching this one very closely. Disclaimer, I own this stock. The above is my opinion.Please do your DD.
Best of luck to us all.
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