$160,000 per month is about 0.5 million per quarter.
The last report indicated a loss from operations of about $2.5 Million. So they are still running a deficit of about $2 Million each quarter. That's why they continue to sell more stock.
It seems endless... They even have a note with Logic Works where debt will be repaid via stock at a price of .007 per share.
I just see the word pursueing ;hope that it implies negotiating. Hopefully cleaning house and punishment to the people involved is progressing -not punishment to the existing stockholders- non-insiders. Would be nice if penalties were taken from Scott and Hunt profits and then surrendering part of their existing shares (disposition of their bonus gifts -that unfortunately was the only part of a GIFT program that happened). That would reduce the outstanding share dilution ;but as we all know ,their deals and contracts were drawn up to protect them-they are both lawyers. Maybe pressure of jail time, will serve as an incentive to create cooperative negotiation that will save PHOT. Has anybody heard any recent news about the now combined law suits ?
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