Replies to post #11090 on FONU2 Inc (FONU)

[Pennywiserr]

Smiling faces, smiling faces sometimes ...they don't tell the ~truth~ and I've got proof. Beware of the handshake behind the Sssnake. The pat on the back may HOlLD ya BACK. Don't let the Sssmile fool ya!:)))))) Lololol

[jwblue74]

Some things never change with Shapiro. Same pattern with MDNT & now FONU. Of course he is smiling while getting rich off investors selling his patented snake oil. Everything this POS has his hands involved with turns to sh*t.

But that will take lots of money, cash the company does not currently have. The company lost $5million in 2003 and $13.2million in 2004.

Shapiro said the company will need to raise more capital by the end of the year to execute its plans. He declined to say how the company plans to do so.

Filings show the company wants to increase to 600 million the number of shares it can issue, and is considering a "significant reverse stock split."

The company needs the additional stock because most of its debt is "convertible," meaning the lender can accept shares instead of cash, Shapiro explained. There aren't enough shares to go around if the lenders demand payment in stock, Shapiro explained.