It is positive they brought in some money during this quarter. Admit I missed that subsequent event comment.
The fact that they could convert doesnt mean they did, hardly would they have converted to restricted stock- they need to hold for 6 months. So together with balance end of November that is almost $300,000 to convert ( before drawing down more convertibles) subsuqent to November 30.It does show somehow the DTC chill factor not hampering convertible notes being issued.
We can agree to disagree- IMO the company should have filed an 8k within 4 days of March 6 announcing whether deal closed, re-negotiated or in negotiation, or terminated. Any investor who bought based on press release anouncing millions of dollars in value to be acquired March 6, then March 6 rolls around would consider it material what occurred or didnt occur. Indeed I recall several posts emphasizing how important march 6 date was. If this is how this company views transparency, I have a feeling they are headed for problems at some point. I am quite sure any securities lawyer would agree an 8k filing was necessary.
