These are the facts : Ironridge will provide $50,

These are the facts :

Ironridge will provide $50,000 per month in financing based upon a share purchase plan for which we shareholders do not yet know exactly of the details.

Ironridge has still not yet been paid in shares enough to compensate them for the initial (part 1) investment which was an extinguishment of about $700,000 of debt.

Ironridge received 150 preferred shares for the $1.5M ($50,000/month financing for the next 37 months) share subscription receivable in the Q3 filing; which is still confusing and makes no sense until we get details and disclosure from the 10K. Did the pref shares conversion ratio to common change or perhaps this was just a placeholder for the $1.5M in financing based upon further details of which we are not aware (contract).

It is uncertain how many total shares Ironridge will receive in the next year or two based on both funding deals because the PPS is always in flux so if the PPS moves up over time we cannot assume that Ironridge will get a certain number of shares (higher the PPS, lower the number of shares received in the future). Another factor which complicates the timing and therefore eventual total number of shares obtained is the fact that Ironridge does not seem to wish to move over the 10% ownership threshold which means there is no telling when they will sell shares and when they will receive new shares or how long they will hold shares.

It is complete speculation to assume it is a certainty that the O/S will reach the 2B A/S at some point, because of the Ironridge funding. No one can possibly know that because no one can know the future PPS, not to mention the exact details of the second part of the investment deal.

Hope that helps...

GLTA

$RFMK