Doesn't make sense to me either as far at the 10 million shares. Did you read exhibit 10.5 about the lock up agreement? As long as the holder is still on the board? Of course there is an out on that too if they set up a trust for the family they could sell. It's the way IBIN got around insider selling not that it necessarily relevant here. It seems to me what happened is they have refinanced things the way someone with huge personal debt does so that they basically make one payment instead of many smaller ones. This one payment is due every 45 days in the amount of 250k and has to be paid in total by May if i understand correctly. Of course they still owe the 80k or so for the mci lawsuit and ceocast and torc reports as well as their general bills. I wonder if this takes care of "all" the penalty fees for failure to register shares or not. If so that could be a good thing. Hopefully it will take care of of money problems for the next 6 weeks. I guess the question is, is there another client or significantly more business out there because if not (and honestly even if there is one) this thing IMO is extremely over priced at anything over a dollar but hopefully I'm wrong about that but that's what the numbers show me. Also these lenders have every reason to hold the price down every 45 days from september 12. At current prices with a discount of 30%, the lenders would be getting the shaft so it would seem reasonable to expect the price to want to drift to within 30% of the .75 reset price. I hope it doesn't but people with bb experience know how to play the percentages, right or wrong fwiw. Subtract 10 days from that and they really only need 3 bad days, and you might be able to float the price for the next 5-6 weeks before a downturn if this 8k doesn't sink things because of the dilution. On the other hand without a large number of shares being registered until the end of the year, the float will stay down and the open window has been pushed back for awhile. Once again long term I say the ceiling has been lowered yet again because of dilution. Let's face it when all these get registered, 60 million shares just isn't that low on 12 million in revenues. JMHO
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