"A company in the early stages of growth, as we are, must make conscious choices about the sources and types of funds we will accept. We have chosen to enter into certain debt transactions with investors with the expectation that we will retire all or most of that debt instead of converting it into shares. A recent SEC filing was made with such a debt holder. Their filing of the form 13g is required to be done by law and indicates that there is a possibility that such an investor could obtain shares totaling as much as 9.9% of the issued and outstanding common stock of the company. It is not our intention to let these securities convert into common stock but instead to retire them on or before their maturity date". "
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