Posted On: 08/15/2016 10:47:32 AM
Post# of 43065
"Why put millions of $$$ into a company and then run it into the ground is beyond me. Tax write off?"
Since the bulk of the $4M Mr. Heddle lent to the company seemed to go to SG&A, I suspect the money mostly went to pay his own salary. Ultimately if the company gets additional financing, Mr. Heddle will get the debt paid back with 12% annual interest and, if no financing, he will get whatever is left of the company.
Either way, Mr. Heddle wasn't willing to part with a dime of that money toward his estimated $175k to $200k to fix the processors and if any of that SG&A actually went toward selling over the past three years, it certainly didn't even pique any potential customer's interest enough to even want to see a pilot run.
But alas, Mr. Heddle never gets dinged for his complete lack of transparency so the optimistic viewpoint is that he lent the company money because he really, really believes in the 'technology'..
Since the bulk of the $4M Mr. Heddle lent to the company seemed to go to SG&A, I suspect the money mostly went to pay his own salary. Ultimately if the company gets additional financing, Mr. Heddle will get the debt paid back with 12% annual interest and, if no financing, he will get whatever is left of the company.
Either way, Mr. Heddle wasn't willing to part with a dime of that money toward his estimated $175k to $200k to fix the processors and if any of that SG&A actually went toward selling over the past three years, it certainly didn't even pique any potential customer's interest enough to even want to see a pilot run.
But alas, Mr. Heddle never gets dinged for his complete lack of transparency so the optimistic viewpoint is that he lent the company money because he really, really believes in the 'technology'..
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Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.
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