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Monday, March 12, 2012 9:02:01 PM
However, they are going to have to reduce debt tremendously. Not to sound negative, but the company according to their financial statement ending June 2011 claimed they had $7.5 million in debt and only $4732 cash in hand. I believe it also said they had 76.95 Million O/S... we are currently at 440 million O/S, so they have diluted quite a bit since those financials were released. I know they have been working on reducing debt they reduced about $620,000 in debt for the period ending Sept. 30, 2011.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=58478
If I read it wrong, feel free to correct me. Again, I'm a long term shareholder (1.25 Million shares), so I don't want people to think I'm negative.
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