Chloe, in case you missed this in K...here are some facts... read part about dilution...Conman tucked it away best he could.. lol ALSO at bottom is list of who owns the PFD C and then figure 60% discount of bid...kinda understand what LV has been stating?
From 10K
We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.
Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next six months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory and raw materials; (ii) developmental expenses associated with a development stage business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.
Original Amount
Due on Notes
(number of notes
issued to
Investor) Approximate
Balance Due to
Investor
Redwood Management, LLC $5,740,089 (5 notes) $ 4,489,794
Redwood Fund II, LLC $600,000 (4 notes) $ 660,000
Redwood Fund III, LLC $235,000 (3 notes) $ 254,000
Dominion Capital, LLC $3,339,490 (8 notes) $ 3,182,990
Total $ 8,586,784
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