We also got AUDITED financials for 2011, quick I would say after all the screwed up that was done by the previous group. I can't remember ever having them this FAST...
mide, thanks for that. My novice take on that is, valuation. Taking a chance and assuming, I assume that annualized revenues are still less than $1Million hopefully not still less than $500K!
That, combined with, the float being still too large. Even though there's "conversion of the debenture into shares", the o/s and or float is much higher in comparison to trump current concern or effect of that conversion.
$0.075 is better than $0.04 to lower the dilution to shareholders. Did LJ actually agree to this? It seems the terms changed from the previous filing.
One would think if LJ is willing to invest at $0.075, the market might see that as a more accurate current valuation, or possibly even undervalued at that price. Maybe the large volume on Friday is an indication there will be some adjustment to the market's perception of valuation in the days ahead.
I hope this truly is bridge financing as someone suggested, and other sources of revenue will soon replace the need for this funding and stop the continued dilution.
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