FACEBOOK POST 44MINUTES AGO:
FUNDING:
"We have every reason to believe that we are still on target for acquisition funding and pray there are no unforeseen delays in funding.
In the meantime, we are entertaining a number of term sheets for additional working capital. We are being selective in our decision which will, of course, be based on what's best for the company and it's shareholders.
With regard to the conversions, there are certain convertible notes that matured and the note holders chose to begin conversions. The Company had no choice but to honor its obligations. With major funding we expect to pay off the remaining convertible debt in order to prevent the need for further conversions."
So in a nut shell:
- they have funding, just hoping for no delays
- the convertible notes have matured and hence why you see VDMN, VFIN, and the other "Diluting MMs" selling shares.
- the company is honoring its commitments to debtors (a good thing paying your bills)
-they plan on using the funding to pay off remaining debt to keep from converting more into shares on the float.
NICE UPDATE! LETS HOPE FOR REAL NEWS SOON!
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