The number of outstanding shares of the registrant’s common stock on September 24, 2010 was 12,639,302.
Net income $ 29,850,355
Cash, end of the year $ 108,616,735
n July 2010, the Company issued 562,500 shares of its common stock in connection with the conversion of $4,500,000 of May 2008 Convertible Debentures.
In August 2010, the Company issued 125,000 shares of its common stock in connection with the conversion of $1,000,000 of May 2008 Convertible Debentures.
In September 2010, the Company issued 250,000 shares of its common stock in connection with the conversion of $2,000,000 of May 2008 Convertible Debentures.
As of June 30, 2010 and through the date of this filling, no formal event of default notice has been presented by the November 2007 Debentures and May 2008 Notes holders. Accrued interest and related interest penalty as of June 30, 2010 amounted to $4,679,787.
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