OK. I spend about a half an hour on the phone with the CEO John Campo last night and we went over several things, first of all the selling is coming from someone unknown, (although we knew that already), he recently pulled the NOBO list up and there are very few investors with over 500,000 shares so any selling by one of them would not last long, remember this float is tight and reacts violently to any sells. The NOBO list contains investors who are willing to be put on that list by the brokerage house you belong to, (there is a way of staying off the list when you sign up for an account) but that is not very common.
Sells from other sources, I dove into the latest 10-Q and here is a summary of what I found
Short term convertible debt none
Long term convertible debt none
Interest expense none
Common stock issued for conversion of debentures $45,000
Common stock issued for purchase of fixed assets $12,500
On November 14, 2012, the Company restructured the debt. The new debt does not bear interest and was fully satisfied upon the lender receiving the scheduled final payment on March 15, 2013.
At September 30, 2013, the principal balance of the note was $0 and accrued interest was $0.
Asher repayment The Company had no liability as of September 30, 2013 or as of December 31, 2012 related to the aforementioned payments.
Basically the company is debt free and any further debt will be through accredited investors and the 144 restricted stock system. It seems there are enough people interested in this company that accredited investors are available.
Conclusion... The company is debt free and able to raise the limited money it needs to get the next phase going, the selling has been well orchestrated and could be a disgruntled retail investor wanting to sell for tax loss reasons, or for lack of forward appreciation in price,it is doubtful it will last much longer.
What we need is someone to see the true potential here and step up to the plate with a 3 million share buy.
AI
