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[QUOTE]Originally posted by kywee: [QB] from the 10-KSB for XRYM filed on 8/25/2005 5. Liquidity; Need for Additional Financing. The Company believes that it does not have the cash it needs for the next twelve months based upon its internally prepared budget and expansion plans. Further, the Company’s cash requirements are not easily predictable and there is a possibility that its budget estimates will prove to be inaccurate. If the Company is unable to generate a positive cash flow, it will be required to curtail operations substantially and seek additional capital. There is no assurance that the Company will be able to obtain additional capital if required, or if capital is available, or can be obtained on terms favorable to the Company. The Company may suffer from a lack of liquidity in the future, which could impair its short-term marketing and sales efforts and adversely affect its results of operations. and 8. Issuance of Additional Shares: The Company has issued nearly its entire current authorized limit of 250 million shares and, in order to continue its growth plans, the Company needs to increase its authorized share amount. The Company is in the preliminary stage of proposing amendments to the Articles of Incorporation to increase the authorized capital of the Company from 250 millions shares of Common Stock, par value $0.001, to 750 million shares of Common Stock, par value $0.001. Additionally, the proposed amendment includes the increase in Preferred Stock from 1 million to 11 million, par value $0.001 consisting of three separate classes; 1) 5,000,000 Preferred Stock Series A, par value $0.001, convertible at a rate of 1 to 100 shares of Common Stock, with all voting rights converted at the same rate, 2) 1 million shares of Preferred Stock Series B, par value $0.001, converted at a rate of 1 to 1 share of Common Stock with all voting rights converted at the same rate., and 3) 5 million shares of Preferred Stock Series C, par value $0.001, with a conversion rate of 1 to 1 share of Common Stock with all voting rights converted at the same rate. The currently issued and outstanding shares of Preferred Stock would be designated as the type 1 described above. there are tons of pages to read, but i could not read it all, so thats some things i saw [/QB][/QUOTE]
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