I stand corrected. The Q3 report came out today and we can now see that it looks like the Ironridge second part investment was indeed more EQUITY financing, not debt financing as I and some others had assumed. Ironridge received their initial issuance on Sept 19 of 143,500,000 shares. The good part about this investment is that the company will receive $50,000 per month in financing, but the bad part is we now know for certain that the financing will be dilutive to shareholders. 
http://www.otcmarkets.com/financialReportView...p;id=93873
"On September 21, 2012, the Company entered into a Stock Purchase Agreement whereby the purchaser agreed to purchase 150 shares of Series A Preferred Stock for total cash consideration of $1,500,000. As of September 30, 2012, the shares had been delivered to the purchaser and $50,000 has been received. The remaining $1,450,000 has been recorded as a stock subscription receivable."
I still think that those of whom assumed immediately and automatically that the second part of the Ironridge deal was just more equity financing were too quick to jump to conclusions, however, it is obvious now that they were right all along. The fact is, I seek the TRUTH, I am not a pumper but I also do not bend to speculative arguments and I wait until I can see actual factual statements from the company in order to know what I know. The fact remains though that it is speculative at best to assume we have any idea on how dilutive the deal with be eventually, once the entire $1.45M receivable has been paid and all stock has been issued. By that time, the company may very well have good operating cash and income and/or the stock could be trading at much higher levels which would lessen the number of shares Ironridge would receive in the end. Also Ironridge could sell some portion of their shares over time while holding onto to other portions for a longer term investment, it is up to their own investment decisions so I would not be too quick to jump to conclusions as to the final O/S counts after all is said and done. This is a multi year financing operation so we will see. Congrats to the few of whom guessed right about the nature of this financing deal, you happened to be right in this instance but I still plan to only believe what I read in filings and take PR's at their word, even if at times the wording can be vague.
GLTA
$RFMK
