Your post:

I noted the 8-K and questioned why we had to wait until early January for a new 8-K when the transactionm must have been in place in mid-December as the note due date states.

"That's because many of us read the SEC filings, it's detailed in their 8-K filing dated October 15, 2007.

The surprise was that they didn't meet their obligation and we didn't hear anything until they filed the January 4 2008 8-K."

That is the basis of why I posted on Dec. 28th. I thought that somehow they had paid off that note b/c sufficient time had lapsed. The note was due on the 23rd. Supposedly the reconfiguring of the payment terms and the consequent issuing of the additional common stock took time which is likely why they didn't file until Jan 4th.

I will verrify this and probe as best I can when I'm able to catch up with Putnam. Could be later on this week.

 Larry