From 10-Q:
"During three months ended March 31, 2009, the Purchasers converted $79,455 principal and nil interest into 193,504,557 shares of our common stocks. As of March 31, 2009, face amount of convertible notes outstanding was $1,542,868."
I can't picture them sitting on shares, they want their money.
AF-01 deal could be a restricted stock.
New financing to cover the bad debt is imperative. Stall on Ribotski until that happens.
IMO, of course.