I dont believe they completed the Stones River purchase. One of the subscribers to the rights offering, Diker, gave them 45 days to close. As this has not occurred, Diker has asked for their money back. I may be wrong but the above is my interpretation of Dikers recent SEC filings re. EFOI at SEC.gov. All imo.
Yes, that is my reading of the SEC filings as well. The last one said they had reached an arrangement for the return of the money.
The news story today says EFOI paid $1.5 million in cash, 1 million shares of stock, a convertible note and a % of future SRC revenue, to total about $5 million for the SRC purchase.
I don't know where they are getting the $$ for the purchase, nor do I know when they are going to start turning a profit. I have been following this company for a while, but have never bought because their future appears to shaky. Even now, they are counting on SRC to pull them up, but I'm wondering if EFOI is just going to take SRC down with them....