this morning because I didn't understand why we were still paying interest vice paying off the debt. His response (below) made me feel rather dumb (which I am). I share it only to ensure everyone has the info:
Good morning Robert,
Could you please respond and explain the logic behind continuing to pay interest on a $300 K note at an 18% interest rate as opposed to paying the entire debt. I am concerned because I thought we finally had enouugh cash that we would have the opportunity to get rid of our debt rather than continuing to issue shares to cover the interest. I guess the underlying question is "do we have the cash to pay off the loan and continue operations?" If we don't, then I think many investors are building false expectations as to what the next financial report is actually going to contain.
Thanks, and have a great day.
Kirk
His response:
Hi, Kirk,
We retired this note on March 23, 2009. Please see the link to the following SEC filing:
http://www.sec.gov/Archives/edgar/da...
Best regards,
Robert
Robert Putnam,
Sr. Vice President
I'm not sure if I forgot about the payment or never got the message we paid it off, but I am relieved to know that it is gone. GLTAL
