Let's return to the original post of Lio's.
"This company was hemorrhaging cash into Q1 2011 when they stopped filing financials. Net LOSS for the 3 months ended March 31, 2011 was 27 million dollars.
Subsequently the O/S rose - in the dark i.e. no more 10-Q's - from 132 million to 300 million shares, maxing out the A/S. Someone on the board asked why Ironridge would invest... i'll tell you: it was because they were going to get millions and millions of shares for next to nothing and then run a stock promotion campaign and dummp a ton of shares into the market in conjunction with OTC stock promo sharks on the backs of gullible investors and who could not see past the shiny IBM facade. "
Ironridge(who I am no fan or supporter of, quite the contrary) has had 2 deals with Ants of which I am aware. The formula for the deal benefited them if the share price fell, which it did. This promo thing is from Lio's imagination. The "shiny IBM facade" is just silly. If Ironridge could have pumped the stock up in the period they were allowed to sell they probably would have. I'd have to run some numbers, but the fact is, they didn't. His ramblings are strictly designed to cast the company in a bad light(as if reality isn't bad enough). Go read the formula for the Ironridge deals and you'll start to understand. There was a later filing for a fund raising deal with Ironridge which Doc thankfully canceled. No one knows how those supposed 300 million are distributed. With that complicated formula Ironridge may have sent a bunch into the float but not enough by my calculations to explain the jump.
AI
