You're most welcome -- to the explanation and to the board.
Always good to poke around under the hood. Can't just kick the tires on these things.
The funny/paradoxical thing is that if IDLM had simply filed its own registration statement and gone public on its own, two things would have happened: (a) it would be worth a heck of a lot more than it is today and (b) I probably would never have become interested in it, being the bottom-feeder that I am. LOL
Even if Frasier had found himself a shell that wasn't owned by the folks that raised the SEC eyebrows, it probably wouldn't have tanked nearly so hard. Plus, I think Frasier would have gotten it much cheaper and/or received a large cash infusion (by leaving the shell guys with fewer shares and issuing some new ones for $$).
But Frasier is busy on the computer and music end of the business and he's a young guy who is a fast learner with little CFO-type experience. He did what he did in choosing to go with NGLF. And it was the cluster-f#$% that ensued from these NGLF penny players (and apparently one in particular) racing to the exits that caused the price to tank and thereby attract my attention. And now we wait for all of this to clear up. IMHO there is no way this shouldn't be well over $1.
Wadi
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