"7 Mio USD of prposed funding" - A group of investors will front up to $7M...however, it is restricted in that performance benchmarks must be met before $ becomes available. Needless to say, the company has strong a incentive to produce. You can read the details on starting page II-4:
- company cannot R/S until 2013, without consent of the investors - cash for preferred shares...no toxic convertibles. - restrictions on what money can be spent on. - must provide public adequate current information about us within the meaning of Rule 144(c) - first 'breakout' @ .012 they will receive $110,752 to $405,085...there are 24 breakouts up to .03...and are 30 day avg!
I live in Dallas area where the MTIZ's headquater is located. I went to their office and posted some pics in this message board. I thought this company was a hiddend gem, but I stared to doubt about that because of management's unprofessional activities. I still hold ~2M shares.