Replies to post #26 on Telkonet Inc (TKOI)

[JAG626]

Ever wonder why no further news on "rights offering"? BELIEVE WE WILL KNOW SOON! Telkonet allows shareholders to buy more stock
By Kathleen Gallagher of the Journal Sentinel
June 1, 2010 | Telkonet Inc. will distribute warrants to existing shareholders that give them the right to buy more shares. The struggling Wauwatosa energy management technology company will hold the offering sometime this year and has not yet set a price for the warrants, according to a filing with the U.S. Securities and Exchange Commission. This so-called "rights offering" is extremely rare in the United States, said John Collopy, director of research for Brigg-Ficks Securities LLC in Milwaukee.

Telkonet said it would use any proceeds to expand sales and marketing, make potential acquisitions and pay costs associated with legal action.

The company has said in regulatory filings it is a defendant in two lawsuits. One involves a patent infringement case, and the other involves Ronald Pickett, its former chief executive, who is suing in a Maryland circuit court on claims of unpaid severance compensation, benefits and expenses.