While I do believe in the long term prospects of this company, it does not make sense to pay more than $0.35 for a share at this time. Please go to page 21 of their latest Quarterly Report. They are selling shares to private investors at $0.35 each. At this point we all need to sit tight and wait for the price to drop at or below $0.35. I am placing my limits at $0.15 each. See comment below directly from the most recent Quarterly Report:
In May 2010, the Company entered into Subscription Agreements with accredited investors in connection with the two private issuance and sales of 1,000,0000 shares of the Company's common stock at $.50 per share (the "1,000,000 share private placement") and 300,000 shares of the Company's common stock at $.35 per share (the "300,000 share private placement"). As of June 30, 2010, the Company sold 90,000 shares under the 1,000,000 share private placement and 227,423 shares under the 300,000 share private placement for net proceeds of $117,848 (net of offering costs of $6,750). On June 30, 2010, the Company's Board of Directors increased the number of shares under the 300,000 share private placement to 1,000,000 shares.