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Saturday, April 16, 2011 12:28:44 PM
On September 22, 2010, Mr. Quirk exchanged his 32,527,776 warrants for 10,000,000 new warrants. The 10,000,000 new warrants consist of three tranches; two of which are for 3,333,333 warrants each and one for 3,333,334 warrants, with strike prices of $0.20, $0.25 and $0.30 (subject to certain exercise price adjustments), and exercise terms of 12 months,18 months and 24 months, respectively.
With the people moves, grants and filings we are now seeing, it certainly appears to be posturing for something (hopefully positive) in the very near future.
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