repost regarding end of 504 financing
Posted by: wing_walker
In reply to: alliecorp who wrote msg# 14966
Date: 6/13/2007 8:10:59 PM
Post #
Allie, I recieved essentially the same info
From Paul on my 504 question to him this morning. And let me just say, anyone that has doubted Paul's word will be eating large amounts of crow starting tomorrow.
The email;
Good morning gentlemen,
Wing: In light of the additional 100+m shares that were just added to the O/S, is there any information you can share that would help offset the negativity and fear on the boards?
Paul: "I think I can. This was the last of the $200K of 504 financing we disclosed at the shareholders meeting. There will be news tomorrow that Spooz has completed all 504 financing (we have reached our $1 million limit) and that the authorized shares will not be increased. All that happened here is that we did exactly what we said we were going to do.
And there was this response to my "shoot now, take names later" question. Just shows the Man plays well :)
Wing: I suspect at current volume levels, in conjunction with investor concern, it will take some time for the market to digest and absorb the additional shares brought out, In the meantime the pps and confidence slides. It seemed after the S/H meeting we were building momentum on confidence and anticipation but it all evaporates rather quickly when people, right or wrong feel they have not had enough information available to them. Most were under the impression from the S/H meeting that the 504’s were nearly done. I think the number given out was something like “around $200k” that needed to be finished and it is believed that more then enough shares have been sold since the meeting. Now because the 504’s keep coming, some think they have been misled.
Paul: "They haven’t".
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