$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.
We've been listening to the "huge buying opportunity" drivel at every major decline since the stock was $4 in July 2011. If my math is correct, that's an 80% decline in share price in the past 24 months.
If, as you indicate, you've taken advantage of the countless buying 'opportunities" as the pps has spiraled downward, you must own what - a few million shares by now? God only knows the size of the loss you must be sitting on; at least it makes your continual misleading rosy outlook in the face of impending doom somewhat understandable - wait a minute - are you Steven VanderVelden??
Not true. SVV got his $$$ out a couple years ago. His S-4 and S-5 filings are still sketchy. Still over 22million shares of his unaccounted for. He sold long ago at 3.25+. Everyone left here is a bag holder.
Was this the same Board member who agreed to let ETAK loan $1.5 million to an affiliated QAT company, which $1.25 loan was lost within a matter of months? Give me a break! What cash-strapped company's board would've ever agreed to such a fiasco loan? Unreal.
Your constant diversion to this garbage is really not helping your cause. The fact is that this company will move forward into profitability and growth exponentially in years to come as the mobile payment and usage in the this transaction based arena explodes. The facts are simple.....we are the gold standard with IP protection in this space that is winning contracts against other 800lb gorillas simply because the customer can see the results first hand now with those contracts already deployed.