Q 2 M: How do you justify 14 billion authorized s
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Quote:
Q 2 M:
How do you justify 14 billion authorized shares post-split when the issued might be in the single-digit millions?
Mark-
It doesn't matter because it is never used and only is a placeholder and costs us a lot of money every time we do a 14c, so if we can keep it at such a high number it helps us possibly forever. Also, there is nothing to justify since it doesn't affect the outstanding and costs us about $15k every time we do a 14c and print all the 14c's for all the shareholders and beneficiaries.
Q 2 M:
With the new infusion of capital announced in the recent press release which debts will be retired? When will we learn about them?
Mark-
We do not announce debt as it is paid off one by one, but we are basically looking to pay off all the vendors that we owe much right now and some of the noteholders. You will see it in the Q for the 2nd quarter.