..i think this would be Sam's Club,not Costco..
i'm not a member at either one,but based on that $2.4m(actually $2.6m-.2m) Q1 revenue,and the eco-i-lite being shown at Sam's Club on the "where to buy" list again for the first time in 2 year's,i'm hunching that pr had to do with the Sam's Club order.
-as far at it not being available on-line,that might not be unusual for an item that is "in store" only..i mean,based on that(what you can't find on-line),you might conclude they couldn't have the eco-i-lite's available in either Costco or Sam's Club,but we know that's not the case.
and i'm looking at what they're doing with these amended B into common filing's as potentially being a good indicator of thing's to come..ie..that they want to get anything to do with their receiving additional share's out of the way before the price of the stock begin's moving up...not waiting untill it has gone up..because that would only stand to draw some criticism...
Just a observation,a hunch,whatever,but it make's possible sense to me.
It's interesting that Stewart Wallach only received 216,287 share's of B stock in lieu of $1.25m cash back at the time in 2006,when he sold Capstone Industrie's(which he is indicated as having been "sole owner" of).
That's because the closing bid for the stock was something like 8 cent's at the time that they signed the purchase agreement,so you divide the $1,250,000 amount by that price to determine the amount of common stock it represent's.
You take that number and divide it by 66 and 2/3rd's to determine how many share's of preferred stock it would be,since it was issued as share's of preferred B originally.
Because of the drop in share price over the year's that followed,Stewart simply received too little stock for that $1.25m in stock he received in Sept.2006.
This was made up for,to a large extent,in June of 2008
.....remember this one??......
CHDT Corp. Eliminates $345,028 in Expenses for FY2008 & a Total of $1,725,137 in Expenses for FY2008 Thru FY2011 as a Result of CEO Cancellation of Options
DEERFIELD BEACH, FL--(Marketwire - June 2, 2008) - CHDT Corp., a Florida corporation (OTCBB: CHDO) ("CHDT"), announced today that CHDT has eliminated $345,028 in incentive compensation expenses in FY 2008 and an aggregate total of $1,725,137 in incentive compensation expenses for FY2008 through FY2011 as a result of Stewart Wallach, CHDT CEO & President, voluntarily cancelling his non-qualified stock option for 73,386,667 million shares of CHDT Common Stock. The expense elimination for FY2008 is included in the total expense elimination for FY2008 through FY2011.
The cancellation of the options was part of an agreement ("Agreement") with Howard Ullman, CHDT Chairman of the Board and a principal shareholder, whereby Mr. Wallach also privately purchased 35 million shares of Common Stock, $0.0001 par value per share, ("Stock") and 939,000 shares of CHDT Series B Convertible Preferred Stock, $0.10 par value per share, ("Series B Stock") from Mr. Ullman on June 2, 2008. The aggregate purchase price for the Stock and Series B Stock was $242,435, paid by a note. The option cancellation and the Stock and Series B Preferred Stock purchase are part of current steps being taken by management in pursuit of the CHDT strategic goal of attaining sustained profitability in operations.
Stewart Wallach said: "These actions reflect my personal confidence in the future of CHDT. We are committed to making CHDT profitable on a quarter-by-quarter basis in order to enhance public shareholder value." Howard Ullman said: "Stewart and I wanted to find a way to help CHDT's financial performance, reward Stewart for his efforts to put CHDT on the path to profitability and to do so in a manner that did not penalize CHDT or its public shareholders.
He went on to convert 892,124 share's of B-1,not the 939,000 share's of B mentioned above,in December 2009,for 59,468,986 share's of common.
Add the 35m shares of common,shown above,along with the stock from the converted B-1,and he got 94,468,986 share's of common for his $242,435. That work's out to .002566 per share for over 90 million share's of stock..that's a lot of stock for just over a 1/4 of a cent per,..it made up for the mere 14,700,000 or so that he got for the $1.25m of B stock that he accepted back in 2006.
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