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Re: manshoon1 post# 43750

Wednesday, 05/02/2012 7:53:54 PM

Wednesday, May 02, 2012 7:53:54 PM

Post# of 278687
I'm confused. It says

The Letter Agreements originally permitted us to “put” up to an aggregate of $2,500,000 in shares of our Class A common stock to Calm Seas during a two year period ending on the second anniversary of the effective date of the registration statement in which this prospectus is contained. As of the date of this prospectus, we have put to Calm Seas an aggregate of $845,000 resulting in issuance to Calm Seas of 16,053,879 shares under the 2009 Letter Agreement. As a result, the Letter Agreements currently permit us to put to Calm Seas up to $1,555,000 in shares of our Class A common stock.



So we're allowed to sell up to $2.5M to CSC, and we've already sold $0.845M worth of shares to them. The filing says that we can sell up to $1.555M more to them, but $2.5M minus $0.845M is $1.655M, right? Where did the other $100K go?
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