First off, No investor on this board would have done a fraction of the DD that the lender did who provided the 15mil bridge loan to the company. That speaks volumes in itself. The CEO has indicated that were some former debts that he had to clean up which has required some dilution. If you think about it, the cheaper the stock price, the more shares it takes to pay a bill. The CEO has mentioned to some that the O/S shouldn't exceed about 450Mil - that was a guesstimate and he is still in the ballpark IMHO. I believe one of the reasons he is meeting with IR tomorrow is to provide answers to investors concerns - I would expect an NR by Monday latest after that discussion takes place...
Makamai
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