It's quite possible that there will be some revenue within 270 days, and if so the share price will be much higher. But even without revenue the share price could be much higher if the current studies are completed and the company publishes, what we assume will be, positive results. The nice thing is that with a higher share price the company could redeem 50% of the "stated value" of the shares. Actually 110% of the stated value as per the Purchase Agreement with fewer common shares!

So let's do some math.
The stated value of 50% of the preferred shares =12,500,000 common shares. @ $.20 each = $2,500,000 + 10% premium = $2,750,000.

If at the time of redemption the shares are trading at let's say $1.00, the company can redeem half of the outstanding shares of Preferred Shares by issuing the investor only 2.75 million shares vs 12.50 million shares. But of course if they have the cash on hand the company may choose to do otherwise. It's important to remember that the choice to redeem via cash or common stock is at the sole discretion of the company.

The same principle applies to the quarterly payment of dividends.

Quote:

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The dividends are due and payable in cash or freely tradable common stock of the Registrant in the sole discretion of the Registrant.

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I'm sure glad the company issued the amended 8-K. I was having a hell of a time trying to figure out where the $.20 per share came from in the initial 8-K.

Stay tuned for some positive results!