Correction: The albatross around e.Digital’s neck...
I haven't had the time to track the goings on of e.Digital lately, but just checked in and realized a misstatement in a former post of mine.
The small financing to which I referred (in the post to which I am replying) should have said $100,000 or less (not $1 million or less).
Corrected statement:
I would not be surprised to see them do a small financing for $100,000 or less within the next 2-3 months. This would reset the conversion price only on the Series D and EE shares and the CSP warrants. However, they would have to do another S-3 to make sure that there were enough registered shares available.
If they offered such a financing, it would make sense for the owners of the Series D and EE owners to fund it as it would reset their conversion price.
e.Digital has enough registered but unreserved shares to do such a financing but would need to register several million shares immediately following (if not prior to) such a financing to increase the number of common shares available for conversion as calculated by the new conversion price.
