In January through September 2012, in connection with the issuance of notes payable, the Company issued 9.89 post-split shares of its Series A Preferred. For the period October 1, 2012 through November 9, 2012, the Company issued 2.47 post-split shares of Series A Preferred. See Note 7.
For the period October 1, 2012 through November 9, 2012, the Company issued 566,666 post-split shares of Common Stock upon conversion of 0.567 post-split shares of Convertible Preferred Stock.
Half a million shares for half a preferred convertible.
Gee, that's like 5 million new shares(back when there was two three times the current bid) just waiting to be converted, and there is only around maybe 30,000 shares available.
How will the financiers be paid?
Oh yeah...
With new share addition, IDOI's can't wait for the "emergency shareholder proxy to allow them to "vote" to keep their investment alive.
Unreal!
And the preferred shares have voting rights. I wonder how they will vote...
Thoughts?
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