Update on the shares and cash. Per the 8-k, the

Update on the shares and cash.

Per the 8-k, the Paulson PIPE is closed. They sold 84.4 million shares and provided 64 million warrants as an incentive to the buyers. Total is 149.4 million shares.

Further, they paid Paulson two types of commission:
1. 13% of cash proceeds, or about $2.8 million, and
2. 19.4 million warrants (13% of the 149.4 million)

The price was 25.5 cents to buy one share and receive .75 warrants.

This is also interesting: Quote: "The issuance of the (Paulson) warrants is subject to the approval by the Company's shareholders of an increase in authorized shares of Common Stock."

I read this to mean that the company has run out of the 200 million shares that was authorized at the last annual meeting. Or, at least, has fewer than 19.4 million left.

Another point for readers to understand. The proceeds that are referenced in this 8-k are the gross proceeds ($21.8 million) for the entirety of the offering (which began in January or February).

Per the 8-k issued May 31, they had already received $8.8 million. So, this disclosure was for $13 million new dollars in June (less 13% commission).

The 10k is due around July 31 which will give us more information on cash balances and the payments that have been made to Samsung (which were referenced in the call).