Well Ken M., if that is what they meant then they certainly didn't say that. The press release is very clear. It only says that they have an $800,000 line. If you choose to believe they have an $18M line, that is certainly your business. If the company means that they have an $18M line of credit then they have an obligation to say that in writing on the record. Meaning no disrespect to your account of a conversation, these hearsay representations don't carry a thimble of water with me.
The company, if it has made a mistake can come forward on the record to correct that mistake. Otherwise, it can only be interpreted in the way that it is written. Absent such a black and white correction of this alleged factual error, then the only record is what is in their releases.
Hiding behind these kinds of third party attributions, these whispered phone conversations, that have no legal basis for accountability, are red flags that any investor should be quite concerned about. |
