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ddls

03/26/12 4:13 PM

#42311 RE: ddls #42309

Also,
I don't blame GR for everything but, it's incredible that he's
giving himself these stocks left and right when we have what we
have. Add to that the salary he makes.

He'd better have something good for investors soon or this will
tank more than what you see today.

rocky301

03/26/12 4:18 PM

#42313 RE: ddls #42309

Rabin was well aware of "make whole" contract well before the first lawsuit was filed..

On February 11, 2011 and June 15, 2011, the Company entered into an agreement with Gemini Master Fund (“Gemini”), whereby, the Company issued 20,000,000 shares and 1,987,829 shares, respectively to settle errors involving warrant issuances to Gemini. The Company relieved the warrant liability and recorded a financing cost of $2,401,282 in the accompanying consolidated statements of operations.

On August 9, 2011, the Company entered into a settlement agreement and mutual release with Midsummer Investment, Ltd. and Midsummer Small Cap Master, Ltd. (collectively, “Midsummer”). Pursuant to the agreement, the Company issued to Midsummer 36,000,000 shares on August 12, 2011. The shares were recorded as finance costs and valued $6,120,000..