Posted On: 09/04/2013 11:35:07 AM
Post# of 1609
Re: Pennylanepam #263
Management is continuing to execute a strategy to rapidly reduce Preferred B related debt through conversion to common shares. Preferred B debt was just $25,000 at the end of 2nd quarter.
It is important to note that Boost is now being retained under a month to month contract (indicated in the 2nd quarter report). No Preferred B stock was issued to Boost during the 4th quarter of 2012.
Preferred B outstanding has been reduced by 7450 shares during the 3rd quarter of 2013 (so far).
Since the start of 2013, Preferred B outstanding has been reduced by over 28,000 shares.
The company been reducing its Preferred stock outstanding pretty much the entire year (first 3 quarters) while the PPS has not fallen below the bottom of $0.002 (which ironically was caused by the chill).
GLTA
It is important to note that Boost is now being retained under a month to month contract (indicated in the 2nd quarter report). No Preferred B stock was issued to Boost during the 4th quarter of 2012.
Preferred B outstanding has been reduced by 7450 shares during the 3rd quarter of 2013 (so far).
Since the start of 2013, Preferred B outstanding has been reduced by over 28,000 shares.
The company been reducing its Preferred stock outstanding pretty much the entire year (first 3 quarters) while the PPS has not fallen below the bottom of $0.002 (which ironically was caused by the chill).
GLTA
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