More Positive News....Another cheap PPWhat a crock!!
More friends needed cheap shares????
From the $250,000 PP news release on Feb 5. "The corporation did not complete its proposed private placement of 244,000 units at 40 cents per unit reported in November of 2001." So they cancel a PP for 40 cent shares and replace it with 30 cent shares. Did they not know they needed another 97,600 when they issued the PP on the 5th of Feb????
JUST PLAIN OLD GREED!!! Management of this company is not any different than any other.
They make it sound like they cancelled a PP for $97,600 with one for $250,000, of course for a 10 cent bargain and a lot more dilution. Then they turn around a issue another PP to raise the same amount of money only instead of issuing 244,000 shares at 40 cents, they issue 320,000 shares at 30 cents.
I hope the exchange does not approve it!!
Lamont