Re: LL - Re: Why the 5% additional dilution since the 10K filing?!
posted on
Sep 15, 2008 10:52AM
Re the following 10K statement that is underlined.
<On August 4, 2008, we announced our intent to acquire Crossflo for $10 million comprised of cash and stock with an effective completion date of September 1, 2008, subject to approval by Crossflo’s shareholders.
On August 8, 2008, we purchased a secured convertible promissory note with an attached warrant for common stock from Crossflo with a face amount of $417,750. Terms of the note are the same as those outlined in Note 4.>
Does it mean that we made a second investment in Crossflo before it closed? If so, then we owned 8% of Crossflo stock plus 400k shares in warrants. Is that a correct reading? Where can I find Note 4? Opty