QS - isn't this just a regurgitation of your last "press" release?
Glad to hear you have positively confirmed that the "company is on-track to consolidate and eliminate several large convertible notes this quarter as a result of the partnership, totaling over $415k and putting the company within striking distance of their 2014 goal of reducing total debt by 50%." - the next quarterly statement will explicitly show if you are telling the truth or not.
Expected results:
1. Existing $415k in convertible debt will be consolidated (i.e. reconverted to a new note) or eliminated (i.e. reduced to zero). As of the last quarterly report there were 67 "existing" debentures totalling $1,736,226 - so the results that are expected will be to see if debentures number 1-67 will be eliminated or consolidated into new debentures to the down to a level of at least $1,321,226..
2. Reducing debt by 50% - the company seems a bit more vague here as to what they consider "debt". Is it the $14.4 million of "accumulated deficit", the "derivative liability" which is $1.9 million, the "long term debt" which is only $10k, or is it just the outstanding debentures at $1.7 million?? Either way, we have a number of measurement tools to determine how successful they will be in reducing any of these numbers by 50%.
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