SH, there are a number of RULES...
governing PP's and Convertible Debentures that McBride has Gleefully ignored, as he has ignored a number of OBLIGATORY SEC Filings, as well: Schedule 13D, Form 3 and 4, Rule 17(b) Disclaimers, etc...
BTW, you never did anything Illegal and you have nothing to worry about... However, there is an SEC concept called "accredited investor" and a minimum of 6 months must elapse between PP's or before altering the issue price...
As usual, it seems that McBride Trampled the Law with both feet and apparently took a hefty portion of the cash raised in the PP's to buy himself his new seaside house... See the Filings, where he admits having borrowed in excess of 1.14 million in CASH from SEVU, which is approximately what he paid for the house, that is now for Sale at a HEFTY Profit, BTW....
I haven't checked, but wouldn't be surprised if he repaid part of it with Restricted Stock, like he did, when it came to pay back the $278,000 CASH he owed SEVU, which would have negated the immediate necessity of the PP @ 10 cents/share...
Just my Personal opinion...
F. Goelo + + +
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