Read their latest Q...they are issuing shares right and left. My point or issue however was not really the 150K shares (although an inducement for the one party loaning the money when they are the same party receiving the money is just NUTS!)
I can see the meeting now:
"Hey Andy, we should loan Spur money from our other company and charge 18% interest!"
"Ok Jeremy, but what is going to induce us to do it?"
"I don't know Andy! How about we take 150,000 shares as an inducement?"
"Why don't we ask Andy and Jeremy at Spur if they agree to it?"
Now what? They call themselves? They switch sides at the table and play act? Nuts I tell ya!!!!
My POINT was that loaning "themselves" money at 18% interest at the expense of the shareholders is, IMO, asinine and IMO, bordering on criminal.
With 200 million a/s to play with (with no cash, no revenues, no real assets, over $1 mill in debt and two guys who obviously (imo) have trouble caring about shareholders > 18%???), this could get even scarier as time goes on.
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