RE:RE:RE:RE:RE:News Your facts are wrong. This was NOT a PP. It was a convertable debenture. (Yes I know Farshad used PP in the release but he was wrong to call it a PP) Nothing filled at 10 cents. They have the option to CONVERT at 10 cent and they will do that down the road if the loan is not repaid and the stock price is higher than 10 cents. They will not convert if the stock price is under 10 cents.
The fact remains that the last PP for 1.7 million at 8 cents NEVER FILLED! They raise about 800K plus finders fees. They were short 1 million wh why they were forced to seek alternative funds in the form of a debenture.
Debenture financing can fill a void but it is the worst form of financing for a junior with no cash flow.
Please stick to the facts. If you don;t understand the facts ask questons.
Debenture = loan
PP = share offering
lancemanion1974 wrote: Reguardless Sir H. The fact remains, PP filled in 3 days at 10 cents.. I do believe we have set a baseline.