I think you are correct. Fife is a fairly big player in the convertible debt financing arena. His name appears on a number of other issues I've traded. The only one I can think of off hand is Mdcn, but I have some familiarity with his work.

I think with this new 13g/a he was basically marking his territory so to speak. I think he is also a buyer of convertible debt. He has or represents a myriad of companies that he signs as president or agent. He's no flake and will need to be dealt with effectively.

Notice that his filing claims 9.99% which would put the o/s at just better than 200 million shares. I believe that is a very dated number and that he holds far less than 10%, but he's wanting to establish a negotiating position for settlement or conversion.

Those are my thoughts. I'm waiting to see how Gary works this out. He is saving a ton of money by taking the r/m route to take his company public; perhaps he'll throw some of that to the debt holders so as to end up with a workable share structure when the r/m rolls out. He, of course, is not putting a $34 million revenue stream into this without being the majority/controlling shareholder.