What does the following mean?( from the last 10Q)
"On August 3, 2010, August 13, 2010, August 19, 2010, and September 7, 2010, the Company issued 200,000,000 shares each day (800,000,000 shares total) of its common stock to EWI pursuant to EWI conversion notices reducing the promissory note balance by $40,000, $40,000, $60,000, and $50,000, respectively ($190,000 total)."
It means that out of 5 billion authorized 2 billion went to Khoo on restricted basis. 892 million in float and $190,000. converted into 800 million shares free trading. That means that there still is $1,010,000. due for conversion. If they converted 190 grand into 800 million at an .0007 average price (approximate)then they have the ability to convert the remaining 1 million bucks into 5 billion shares at .0007 or 8 billion shares at .00035 or 2.5 billion shares at .0014 or 1.25 billion shares at .0028?
It does not matter. If the company succeeds on a fundamental basis than the float can sustain 2.5 billion shares at .002.
If no revenues come in over the next 12 months then even 892 million shares at .0004 is too expensive.
Demand that the website gets up and running and demand that Hollister start doing investor conferences and shows. We are going to go through this again on September 30 when the annual report will obviously not come out. That leaves maybe 2 weeks extension. That also means that this will be the 3rd time this stock was late this year. Read the otcbb regulations on this. With this exotic financing of debt conversion you need to stay on otcbb.
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