John, how can you not envision a reverse split coming to a theatre near you. It seems obvious to me, that a some point in time,this dog will eat it's own puppies.How many are authorized? According to the most recent 10Q/A "Common Stock, par value $0.001 per share,
authorized 350,000,000 shares; issued and
outstanding 230,762,520 shares " You only have 120mm shares to play with son($ @.015-thats $1.8mm),IMO it will either reverse or increase the number of authorized
within a couple years,-you still have to compensate the doctor and his sidekick,the Esquire.. Not to mention, try to make the business' profitable-takes cash!
"The Company's monthly operating expenses for the
quarter ended September 30, 1998 and during the present
quarter include rent for executive office space in Hickory,
NC, professional/accounting fees, telephones, but do not
reflect any salary to Dr. Jerrold R. Hinton, the Company's
sole executive officer. The Company is accruing but does not
contemplate commencing payment to Dr. Hinton of the monthly
salary of $8,333.33 provided in his three year employment
agreement unless and until it begins to generate positive
cash flow from operations. During fiscal 1997 and the first
three quarters of fiscal 1998, the Company's executive
officer, directors and consultants were issued shares in
registration statements on Form S-8 in consideration for
their continued services to the Company and in lieu of any
cash compensation. After the end of the quarter ended
September 30, 1998, the Company and ETLC agreed that the
Company would not incur any expense, other than phone
expense in connection with use of conference facilities for
its Investor Relations offices at Rockefeller Center in NYC."
Let's see,the doc gets $8300/month- that is 553,333 sh/mo,just for his basic salary...better start brushing up on your math...others have to be paid as well. How many shares will the Esquire get for doing the 10K? How many shares will the NY consultants get in compensation? And also remember it's just after Christmas bonus time!!<lol!!!>.. |
