QUESTION:
Hi Eric, Why has the quarterly share structure update suddenly turned into the weekly share structure update? Has bridge financing been found, while you continue to be working on a deal for friendly financing? Is this supposed to be some clue for the longs here? Not much news has been released lately and the price per share is beginning to show some signs of life. Please share what you can. Thanks.
ANSWER:
The update on June 15th was made in connection with the renewal of our Current Information tier status by Pink Sheets. (Current Information is a disclosure standard that the majority of our peers on Pink Sheets do not meet).The update on June 25th was made to provide evidence that there was no issuance immediately thereafter. The update on July 2nd was to provide the end of Q2 share status for official purposes.
We are utilizing new Purchase Order Financing to supplement existing Accounts Receivable Financing. This helps with cash flow, although does not address the desire to hold larger inventory for faster turnaround of orders into deliveries. That will come with the broader refinancing.
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There will always be a few critics who claim that we cannot do what we have set out to accomplish. These are people who have not personally accomplished exactly what we are setting out to do. However, for those who have, there is a standing invitation to play a constructive part. I am easy to reach.
Cheers, Eric
