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What is new with this? I know they are resubmitting financials. Does anyone know anything else going on? I pretty much forgot I owned this stock.
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I think I found out what is going on with GLBT. It appears they recently borrowed $500,000 from AJW Partners, AJW Master Fund and New Millineum Capital Partners, secured by stocks. They will have until September 2010 to apy back the money. Also, there may be a potential for them to issue another 60,000,000,000 common shares upon stockholder approval. A/S is 20 Billion, with 12.3 billion issued. I'm not sure if this is good news or not. Someone believes in them enough to loan them $500,000; that is good. The potential dilution is bad, but I would rather face dilution than a R/S. At least with dilution, there is a possibility of the stock going up. With a R/S, you always lose your money. This will be interesting to watch.
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