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Elephant Talk Communications Corp. Message Board

  • sirius_yomama_2 sirius_yomama_2 May 30, 2013 6:30 AM Flag

    ETAK BOD Has large Skin in the Game

    $1.3M loan to the company was from a BOD of the company and the $225K "restricted" shares were from a non affiliated individual. Investing that much cash in the company from a BOD member is high vote of confidence in the viability and the future of the company. This is only the first part of a long term funding plan and other plans have been approved by the BOD already. The compliance issue will be taken care of soon and is a non event. This $1.5M cash by itself will go a long way for ETAK not withstanding other funding that are already approved. In past 7 years they have used only $50M in cash out of pocket and most of those losses were in beginning years and prior to VS integration. We are so close to profitability with our mobile and security revenue growing so rapidly that the need for additional funding beyond this $1.5M is really for other growth opportunity investment. As such, I view this as huge buying opportunity for those that are on sidelines or need to average down.

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