RE: Why does this company need finance?Read the past postings - they have an agreement in place to settle a lawsuit - the only catch is the people they are suing are holding the bulk of their debentures. The reasoning for the financing is so they can pay out their debentures (at a discount - according to lou in an earlier posted email) and receive the settlment. At that point the company (i am assuming) will pay down thier financing and continue work as usual. The delay in the release for this financing i am guessing is because they want to report their financials at the same time.
all JMHO but makes sense to me.
Cheers!
Mick