No one knows their true plan, other than what they released in PRs unless it is blatant lies(I don't believe it is). We don't know what notes that 1.1M took care of and they stated they are working to negotiate others. Depending on what notes still exist and their conversion terms they have to have the A/S set high for a worst case scenario. I would not mind to see the A/S reduced also when they can get their debt under control where they don't need it.
Another OTC stock recently got dropped by their auditors over unresolved discussions on whether their AS was large enough to cover potential conversions. They also changed to that auditor just before filings were due and are now nearly 2 months late in filing their 10K as well as taking out toxic notes, but people are singing their praises over there.
Hell you may end up being right, but it is all just speculation at the moment. I expect more news after the D drops off on the 16th. I also expect them to file the 10K on time or even early. If they miss the next filing I am out, no matter their reason or excuse is.
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