I share your pain. I understand how you feel and I agree. I was not apologizing though, merely stating that we now do know for certain what was the real nature of that deal with Ironridge. I still think many of the bashers and others made wild speculations about it and were quick to jump to conclusions. In this instance they turned out to be right but it is not always so and I am sure the wild speculation about final O/S counts for the years to come will continue but once again I will wait and be patient to see the actual truth of what happens in the future. Whether we misinterpreted the wording and verbiage in the PR or were actively deceived I think is another matter, best left up to the individuals perspective. I for one think that the wording was merely vague and many of us assumed one way or the other and it just so happens that the deal was equity based as the bashers thought. One part of it though to remember is that the deal is not immediately dilutive all at once. They received preferred shares which convert into common shares at a certain conversion rate and it is not as if Ironridge would convert them all at the same time and dump them all at once. I suspect they will continue to hold just about a 10% stake in the company, constantly shelling out $50k/month over time while coverting shares to common over months and years. Depending on performance, the stock could move much higher too over all that time and so 12 months from now the cost basis for their 10% stake at the then current time could look much different than it does now. The PPS so low right now means that many shares are issued for little money but in the future that could look completely different.
I am also not a happy camper. We also already knew that 20,000 units were incoming "soon". Basically we got a fluff PR and a horrific quarterly report today. Not fun, especially after such jubilation in the success of the MJ vote. I realize as a loyal long here that the 10K is coming "soon", however, I must say, just FYI to others, should the 10K not appear before the end of the year, like I have always said, it would unfortunately be time for me to move on. Shareholders need absolute transparency here. Not "soon", now. Hopefully we can see real actualized business progress here and transparency besides only seeing massive progress from Cheryl's side of the business. Cheryl is a rock star. Cheryl has been pulling 100X her weight in the company and doing a phenomenal job but at this point its clear that the progress is lopsided. Hopefully the company can catch up with her pace of progression. I am hopeful for the future and patient to wait and see what happens and what company management can do to keep up with Cheryl's pace and deliver real shareholder value at some point. Just my opinions.
GLTA
$RFMK
