Perhaps I misspoke but basically we are talking 2.5 million shares over the last year, yes I guess that the total to date is 11%, but does anyone have a better alternative? And yes Smars that is the one positive thing that I saw, the light at the end of the tunnel for them will be shut off.
In the past in order to raise money the company would sell “restricted shares “ to “qualified” investors and those shares would not only sell at a discount to the market price but often times would also come with a sweetener in the form of a warrant for a percentage of the unit purchased. We’ve talked about this a zillion times, this looks like just another years Post Effective Statement that is all. Like I said before I don’t have problem with the company selling shares and using that money to move forward.
And if there are any very deep pocketed investors that wish to approach the company to fund it, Lightwave has the ability to cancel that contract at any time, be my guest.
The arrangement with LPC is that they will pay market price (using the formula) and received a sweetener in return. Lightwave set aside 10 Million shares, folks it takes money to make money. Oh and I may be wrong because I guess that they had already turned around and sold them by this time last year. If you have a problem with what Z said then someone can ask him. But I think that until they can stand on their own feet with a contract I kind of like this arrangement, it is better than having a dozen qualified investors kicking in money, hammering the stock. IMO soon enough the LPC thing will be behind us, but until then I think that it is great that we keep 1 years of worth of cash on hand, it is one less thing the BOD and investors have to worry about.
I’m not a securities attorney, that is what Bovi does but he’ll charge by the hour I’m sure, perhaps Steve Cordovano could explain it if you have questions.
Last year’s statement filed 4/26/2012
Post Effective Amendment No. 1
As of the date of this prospectus, the Company has issued 2,586,857 shares to Lincoln Park under the Purchase Agreement, including the sale of 2,529,535 purchase shares and the issuance of 57,322 additional commitment shares, for aggregate proceeds to the Company of $3,799,998.09, and 2,294,626 of such shares have been sold by Lincoln Park pursuant to the Existing Registration Statement, with 7,705,374 shares remaining unsold under the Existing Registration Statement.
POST EFFECTIVE AMENDMENT NO. 2
No date but posted 4/15/13
As of the date of this prospectus, the Company has issued 5,057,659 shares to Lincoln Park under the Purchase Agreement, including the sale of 4,960,363 purchase shares and the issuance of 97,296 additional commitment shares, for aggregate proceeds to the Company of $6,449,997.89, and 5,208,489 of such shares have been sold by Lincoln Park pursuant to the Existing Registration Statement, with 4,791,511 shares remaining unsold under the Existing Registration Statement.
Honestly I’m doing my best to keep this above a buck so they can keep tapping if, I’ve got 6 buy orders in and I’ll leave them there. Honestly I don’t mind watching the price drop as it nears my buy orders. AND I do not care if they fill or not, just saying.
AI
