"Potse they did not receive 87k for 500k shares. Read it again 500k shares were sold at 0.05. You do the math, The pr and the 8k were creatively written that I will give him. Ohh well mabe he brings in some big sales this year and all is well..we will see...."
There is nothing "creative" about the way the press release and 8-k are written. The language in the 8-k is quite clear. The company did not sell 500k shares to the investors at 5 cents. The common shares were sold at 17.5 cents, and the warrants are priced at 17.5 cents.
Focus on the words I have bolded.....
On December 29, 2009, the Company agreed to issue, an aggregate of 500,000 shares of common stock, $.05 par value (the “Common Stock” or “Shares”) and an aggregate of 500,000 warrants exercisable for 12 months to purchase one additional share of Common Stock at a purchase price of $0.175 per share (the “Securities”) in consideration of an initial investment of $87,500, with an additional $87,500 should the warrants be exercised.
This is now the second time in the last year in which you have fixated on the .05 par value.....
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