aliangel
Did you see this note posted by nltrader84 below, regarding the share counts?
Reply from John(IR)
Quote:
There is a descepancy between the TA and the company regarding the outstanding. The TA is including 30 million shares (restricted)issued to an escrow agent as collateral for the $100k note portrayed in the the 8K filing on 3/23. The TA is including those shares in the outstanding and the company is not. The company is working with counsel and their accounts to determine what the proper result is.
The company feels that since the shares are collateral, issued to an escrow agent and not a shareholder, and will be returned to the company when the loan is satisfied, they are not actually outstanding. Once the loan is satisfied, the shares revert back to the company and will be cancelled.
I will let you know the outcome as to how the company must handle it after their counsel has determined it.
John
