Hi Skoaly,
There is no question the company screwed up and made an error on their 8k release premarket Monday. Per the release and the corrected release, it states that the decision FS or RS was made on 11/20 way before the recent run up.
Friday's move seems to be based more on speculation of Steven Moore's involvement based on Form 3 disclosure. I do not see where the company speculated on Mr Moores involvement but it seems the markets did. The disclosure is a requirement based on amount of shares held, if you reference the Form 3, it notes the 10% ownership, is signed by Steve Moore, not Brook Lang and is dated 12/1/12 but the Date of Event is 11/20/12 which coincides with RS decision.
I agree with you that it appears they were caught with the unexpected. I was surprised as others by Friday's market reaction to the Form 3 filing.
For those who wonder if the intent was self enrichment, they need to dig deeper. Who has kept the company afloat over the past two plus years, with limited funding? With or without salary? Review of previously released 10k's will show convertible notes as the source of limited funding.
I do not like or agree with the RS and am not here to defend the company. Rather, I prefer to put a different perspective on things, one hopefully more pragmatic than the ranting, accusations and threats.
As I understand, the company wishes to better position themselves for funding of Rev. 1 product development. This is a development stage company and the marketability of their securities is critical in acquiring funding. Unfortunately, they live in the neighborhood of Pink sub penny markets but are trying to get financing in big board fashion. This is the dilemma and challenge they face today and over the past several years in the midst of the Great Recession. I believe the RS is tied to this strategy.
I have not seen or heard, supporting evidence that the company engaged a P&D or self enrichment scheme. If someone has evidence of such, I would like to see the proof.
I for one will continue to keep a watchful eye to what unfolds and will not be a party to the silly threats and ranting. We as long time share holders chose to invest here, we could have sold in 2010 for over .03. I will maintain accountability for my own decisions.
These are simply my opinions and not a recommendation to buy, sell or hold. GLTA
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