Well that would be pretty bad - I wonder why they would have waited all this time to sell. Hopefully, the stock can stabilize around .003 - it has come down a lot from recent highs. I was (stupidly) buying some at 5x that price only a couple weeks ago. :-(
Was looking at this again. If I'm reading it correctly, the cost basis is $1.00/share - is that right?
11/30/2011 98,440,000 shares issued at par ($ 0.001) in settlement of $98,440,000 debt. The unpaid obligation was documented in SEC filings. The shares were issued without restriction. No cash yield to the Company.
Can you direct me to the link that shows when these shares were issued and that they were unrestricted. I only see the information in the 10Qs, which doesn't say much about it, except during which reporting period they were issued. Thanks.