RE:This Company has a CREDIBILITY PROBLEMAs I have stated before why do they not offer existing shareholders a crack at buying these shares with the same conditions with the warrants.This would not be a big deal for them to do as they already have a list of investors instead they compensate a certain person for introducing potential subscribers as per the part I have copied from the news release.I have been a believer of the technology this company has and have held this position for many years but am beginning to tire how I perceive they basically take for granted existing shareholders.Just my rant for today see below the excerpt from the news release.
A certain person assisted the company by introducing potential subscribers for the offering and was paid a finder's fee of 10 per cent of the total subscription proceeds received from subscribers introduced to the company by that person. Additionally, this person was issued compensation warrants equal to 10 per cent of the total number of units subscribed for by subscribers introduced to the company by this person. Each compensation warrant entitles the holder thereof to purchase one share at a price of 10 cents per share for a period of one year from the date of issue. The compensation warrants will be restricted from transfer for a period of four months and a day from the date hereof in accordance with applicable securities laws.
Cellar