When is Moro going to "fess up" and file an 8K about the changing of terms on the Smithline loan? Dropping the conversion rate from 14 cents a share to the same terms as the Asher Enterprises loan is CERTAINLY a material event. Smithline is now able to convert his note on "death spiral" terms of the lowest 5 day average in the past 10 business days.
Smithlines rate of conversion has dropped from 14 cents per share to the current 58% discounted level of .005162 per share.
Moro's inaction to report a material event is certainly a violation of SEC laws.
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