Under the agreement they made payment are not due to start till Jan 31st 2012 it's in the 8k. They don't have to issue shares or reverse split they can make monthly cash payments if able at that time. Under the terms of the Final Settlement Agreement, we issued our 8% convertible promissory notes in the principal amount of $ 4,559,842.41 to Alpha Capital and $3,496,415.91 to Whalehaven (the “Notes”). We are obligated retire the Notes in monthly installments, commencing January 31, 2012, by the payment in cash or (at our sole option) by delivery shares of our common stock in an amount equal to 6.25% of the principal amount of each Note, plus accrued interest. In the event we elect to make installment payments in common stock, we will be obligated to make monthly delivery of shares of common stock that are not subject to any restrictions on resale under Rule 144 under the Securities Act (“Non-Restricted Shares”) valued at 80% of the three lowest volume weighted average closing prices of our common stock over the 20 trading days immediately prior to each installment payment date. It is our present intention to amortize the Notes with our common stock, although we may elect to pay one or more such installments in cash. ,
AI
