Re: This month is over....LL
posted on
Jul 01, 2008 09:22PM
LL:
You said the following:
" I said I was wrong about the SHM (and I'm glad I was), I was not wrong about more shares and financing, and I think it's fair to look at the actual words they put out there which are the same words they always put out there."
Here is the "words they pu out there":
(OTC: EDIG), a leading technology innovator of dedicated portable entertainment systems and patented flash memory-related technology today announced it sold $750,000 of Series AA Convertible Preferred shares and warrants to selected accredited investors including the Company’s senior vice president, Robert Putnam.
It seems you were also WRONG about "more shares and financing"...
Take some time and read the paragraph in the PR that talks about the terms of the agreement with RP and the "Selected accredited Investors" it is clear that the money has been given to EDIG with the "Expectation" that on its "due date", they will excercise the Warrants and make a killing.
There is no talk of interest and so on, They only get paid the higher of $.01 cents, or the average of the PPS for the last 5 day before the maturity date or June 30, 09.
To me that says there are no stocks issued, and no promises to pay in stock certificate to secure the loan. There is only a promise to pay the loan back in cash at rates mentioned above. And, RP and the accredited investors paid $750,000 in cash to get the new eVU on the road...
GLTA...
Gil...