nope don't need a new plant, plant is reasonably new already, and as I recall they are only using, somewhere around 28% of it as it is.. Lots of growth potential already built into the plans..
As far as that loan goes, or 30 million bucks for 159,887 series C converted into common shares 50-1 upon BOD, total share increase, 7,994,350 share commission, (been finding the actual share balances of stuff) , me thinks you can put that whole idea to rest too..
There's much more to dissect in the share balance, however, of current record, it most certainly appears that Pope did not get any of the current shares, they got new shares which had not been issued, from the total authorized 600,000,000. I am basing this on the fact that neither the CEO’s 194,263,661 or Verda’s (Verda International Limited) off shore corporation, 194,263,661, original share balance has changed since the merger..
And the old GTEC does not have 25% of the company.
the total outstanding shares were 84,371,069 at the time of exchange or agreement with a contractual limit of 87 mil at closing..
But what's important to note is this original 84 million included all outstanding and or warrants to purchase series A and series C and common stock..
So the float, or shares within the market are or were much lower than perceived.. with 22+ million kept in warrant and option, ..
below is excerpt from SEC file describing the breakdown of all outstanding shares, including all series A and C already converted into common..
"Company's common stock equivalents at June 30, 2007 include 22,911,611 unexercised warrants and options and 663,793 shares issue able upon conversion of Series A preferred stock."
Our public 'Float' (shares being exchanged within the market), as of this filing or as reported prior to merger was approximately 62 million..
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