If she doen`t [sic] reply, I`ll just ask Robert.
NEWe.LONG: I suggest that you go ahead and ask Robert Putnam about the status of the shares that need to be registered for the Series D financing, in fact those shares are overdue for being registered.
The company pledged to use its "best efforts" to register these shares by 6/30/03. However, for some reason, the S-3 to register the common shares required by the Series D CP financing has still not been filed with the SEC.
Supposedly RP has said that the Series D investors have not wanted the shares to be registered yet. Hmmmm! Buy why would that be?
IMO the only rational explanation for this is that the holders of the Series D CP shares would prefer that the registration be delayed until they have sold all of the shares that they will be able to convert at $0.19. In other words, if they can sell in the $.40's and .$50's and cover at $0.19, that's a nice profit.
Does anyone else have an explanation as to why e.Digital is so far behind it's goal of using its best efforts to register these shares by 6/30/03?
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