The filing will show exactly how much cash they received for the allocation of 158 million free trading shares. That is extremely important because they have to pay Seatex for production. If they have no significant cash on hand, yet had JD Venture pay $22,500 to hype a release, that would not bode well with investors.
Glover/Larson could not be stupid enough to have let those shares go for less than half a cent. That means they should have received roughly $700,000. How much must they pay Seatex to start production?
If they show no significant cash on the balance sheet, yet disposed of 158 million free trading shares, then I'd say management has some explaining to do, as that would make it appear that they sold their own shares and pocketed the money.
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