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Tuesday, March 25, 2014 8:34:12 AM
$OTHM Next… Authorized Share Reduction
Reducing Authorized Shares
This has been a point of contention as there seems to be a complete misunderstanding of how a cap structure should be properly organized. In short, the current authorized share structure insufficiently supports the current debt obligations. Thus, in order to accomplish this reduction, intensive negotiations had to occur with creditors, whom over the years, have invested millions of dollars into this Company’s development. To deliberately impede our own ability to service our debts would abscond us from good and decent business practices.
Reducing Authorized Shares
This has been a point of contention as there seems to be a complete misunderstanding of how a cap structure should be properly organized. In short, the current authorized share structure insufficiently supports the current debt obligations. Thus, in order to accomplish this reduction, intensive negotiations had to occur with creditors, whom over the years, have invested millions of dollars into this Company’s development. To deliberately impede our own ability to service our debts would abscond us from good and decent business practices.
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