well done mr chairman

In the EDE's last quarter report "funds having been to be drawn down from La Jolla, which in turn has converted much of this debt to shares, many of which they have sold. This in turn has resulted in a significant drop in the Eden share price".

Mr Chairman and EDE board are fully aware of the damage caused by La Jolla on EDE share prices. Despite that, they are still embracing La Jolla.

When the last rights issue offered to EDE shareholders at $0.050/share did not success , what mr chairman and EDE board are doing is issuing EDE shares to La Jolla at $0.036/share. A huge discount from $0.050/share. Furthermore, they did not stop there, EDE board are continuing to issuing shares to La Jolla at $0.028/share, then at $0.023/share (>50% discount vs $0.050/share offered to EDE shareholder). Recently La Jolla got EDE shares at $0.015/share (> 70% discount vs when EDE shareholders were offered at $0.050/share)

As the result of La Jolla 's share dumping, EDE market capitals fell from $14 million to $5 millions as today, losing about $9 millions in exchange of $1 millions fund from La Jolla.

Mr chairman and his fellow director have about 8 millions EDE shares combined together, value at $400,000 ($0.050/share) a couple of months ago. Now, their holding is valued at $120,000 (at $0.015/share), losing $280,000 predominantly due to their La Jolla affair.

So, in exchange of $1 millions fund from La Jolla, EDE shareholders lose $9 millions in stock value. Mr chairman and his fellow director lost $280,000 at face value. Well done mr chairman, what a great deal.