budge-you and bagger are totally wrong about Dr. D's conversion. At that time, as I posted here, I was very much involved in helping the Company raise money. Plenty could have been raised using converts, but I fought against converts and even introduced two different financing sources who were more than willing to do straight debt with small amount of warrants. Almost identical to the million I later introduced and was accepted. As I clearly stated, Dr. D turned down several sources to include mine without even having them submit a definitive term sheet because the all wanted to do at least $5 million. He didn't want that much so he turned them all down.
Yes, Dr. D did ultimately do a half million convert, but not with a "fund"; another friend of the Company. That's when I stepped in and introduced the million dollar investor. BTW, as I mentioned in a past post, there is a very positive "hook" for shareholders in the second financing that should avert any future converts until the stock is well above $3 a share. You will likely see this when the 10Q comes out.
Never once did any straight funding source that I spoke with have any reservations about the money owed to Dr. D. except in one case, they only wanted to be "in front" of Dr. D's debt if he expected to get paid in cash.
I had suggested to Dr. D. Not one month earlier when the stock was in the low dollar level, that if he was considering converting some of his debt, he do it at that time. Nobody was more surprised that he did it at 1.83 than me. I asked him why he did it, and he said he felt the stock was going to go higher so he better do it before that happened.
