i guess you didn't understand... the company that extended them
credit (or lent them money) accepted an exchange of equity for debt- they accepted 400k shares @ 1.00 in exchange for 400k in debt. now i'd never accept that exchange, especially at that premium over open market price, (it's restricted for 6 months, to boot)unless i thought there was something going to happen. if you're saying that in 6 months they're going to dump 400k of shares on the open market, the price would tank so fast that they wouldn't get anything. but if there's some merit to the Semjet technology, and i almost believe there is after speaking with "Steve" who reps. their PR, it just might be worth it for them to hold onto there stock until (or if) it trends higher.
but the only way it will trend higher is when they get the 2 more
(of 5 total) wells actually producing oil. it's an interesting read (the SimJet technology). best of luck to us all.
