Wow! Do the math here. 19.8mm special warrants at $1.20 gets one share and a warrant for another half share at a strike price of $2.00. So this allows the hedge fund to purchase up to 29.6mm shares for the cool sum of $43.47mm. You could buy 29.6mm shares in the market at current prices for about $17.8mm. I think someone at that fund might be looking for a job!

Everyone has moved on. This thing never did have any value. Another repeat performance by your favourite CEO David Lucatch. Don't worry he'll be back in a few more years with the next Facebook, Apple or whatever he can think of.

Companies painstakingly review the wording of their press releases before they are posted. They are very aware of the wording.

It’s looking like the party may be coming to an end on this one. You can still make some money day trading this thing but it’s looking more and more that it’s not a value investment. I downloaded KNTCTR to see how well it worked and the voice quality is sub-par. Google VOICE although not yet available in Canada does the same thing. George mentioned in one of his posts that he couldn’t find any info on Liongate Capital. It was disturbing to find out that this company consisted of one individual who was charged by the SEC for illegal short selling. This brings into question the validity of the $30mm bid. Supporters of the company were up in arms over the Admiral George blog but it did site a lot of factual information. In short, I think it’s a good thing to have more info about this company than just company propaganda.

Looking to open this morning at $1.19.

Might be time to get out before this stock fades to oblivion.