It's not toxic financing as some would think
Per the 10Q for the period ending 03/31/2014:
Tarpon was given 27,000,000 shares. On 04/03/2014 Asher filed a 13G, having converted debt to 13,908,430 shares of STLK common stock to be sold into the market.
On July 1, 2014 the float was 125,586,983 shares.
On Aug. 5, 2014 the float was 236,560,587. An increase of 110.974,604 or almost a 100% increase.
The ASHER 13G and the 27,000,000 shares account for approximately 51,000,000 of the shares added to the float, with approximately 59,000,000 unaccounted for by a filing or explanation. The secret of toxic financers that most penny investors don't know is; if financers convert to less than 5% of the O/S at a time, they need not file a 13D/G. They can then sell shares into the market, leaving shareholders unaware of what is occurring. In most instances company insiders get blamed for selling those shares.
Current maturity dates and sums for notes to financers:
Aug 2014 $32,500
Sept 2014 $27,500 and $25,000
Oct 2014 $$42,500
Dec 2014 $32,500
Mar 2015 $21,500
These facts are found in the last 10Q filed by STLK for 03/31/2014. Is ASHER really out as some claim? I don't think so. It is evident, in my opinion that they and Tarpon are selling shares, converted at less than 5% of the O/S at a time as debt conversions. As the conversions and dilution continue, they can convert more shares at 5% ownership and at lower conversion cost per share to themselves. To me that is toxic financing as anyone would define it.
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