Others disagree and are free to present their view. As I understand it from reading the full filing and some contradictory postings on this board (imagine that on ihub hah), that is exactly what they can do until the 2$$$$$$ million they are owed is satisfied.
Only IR cannot have in its possession more than 9.99% at any one time without incurring more strenuous reporting requirements. It seems they are limited to the % they can sell at any one time but that is insignificant at this point.
We won't really know until the $50 million in share volume is reached and IR selects the 5 dates they will use as their basis for settling up.
One other little tidbit. If the moving average drops below a certain point, FROZ has to issue IR more shares on the fly (so to speak) in order to keep IR whole on the loan amount.
FROZ may then need to go into their 15 or so billion AS shares pile to get IR those required shares. This increases the OS and increases the #of shares IR can get before hitting 9.99%
Only stops after $50 million in traded share value number is reached.
THE SLOWDOWN IN TRADING IS JUST DRAGGING THIS OUT THAT MUCH LONGER
No wonder called TOXIC FINANCING...This is not loan sharking because it is using shares to pay off the APT loan that IR purchased. IR makes the real money on acquiring as many shares as possible to recoup their $2$$$$$$ million debt from FROZ.
It MIGHT TAKE 202,000,000 shares, 435,000,000 OR 1,000,000,000 shares to equal the 2$$$$$$ IR is owed for buying the debt.
YOU GUEESS WHAT IR IS SHOOTING FOR!
That's MY operating assumption no one else has to agree.
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