A question?
I have been catching up with the board. I can understand the science, but not always the finance. My question deals with the $30M acquired for shares sold. I thought it was a wise move on GTEC to take a private offer and not try to dump on the open market.
I have been looking over the last 10Q and find that the bank debt has reduced since the Nov 2007 10Q report, but still stands at 6.2 million.
Do you think some of the $30M will be used to completely pay off the bank debt?
The next report will be interesting to see. If the company wants to uplist, it would be a plus to be debt free.
Another note is just how much GTEC has proposed to spend on R&D in the near future. Over 11 million dollars. This is a huge number, when you consider most mature firms spend 5-10% of earnings.
A second note deals with the new O/S. I think this had to be increased just in the event of the convertible stock was ever executed. They now have a reasonable buffer and would not have to make a SEC report if the stock gets hot and convertibles are exchanged.
Cheers
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