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apries

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Alias Born 06/25/2010

apries

Re: None

Friday, 06/25/2010 10:05:43 AM

Friday, June 25, 2010 10:05:43 AM

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They're issuing units for the purchase of warrants equivalent to 1 share each. I believe its to have enough shares for liquid trading after an uplisting and not to mention more than $7 million on the balance sheet.

It's going to be a 1 for 10 reverse split along with plans to apply for an uplisting to the nasdaq or amex promptly after the registration is effective.

The report also says the offering should take place on or before Sep. 30, 2010.

The warrants are priced around $6.50 which tells me it's a post reverse split price.

Good luck to all.

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7323621-1160-593864&type=sect&TabIndex=2&companyid=74622&ppu=%252fdefault.aspx%253fcompanyid%253d74622
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