How can you continue to spend when there is no money?? No Financing. The reason Mr Lenfest did the shares for debt conversion was because in the analysis of company officers, as per the proxy published, they did not have the ability to pay the interest on the notes, much less the notes themselves. They are back in the same situation. The 5 million worth of preferred shares continue to accrue interest and TEVE can't pay it. So again, what money do they have to spend? That's reality.
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