r.i.p., page-13

Hello boys and girls. Good to see the trading of insults continues, but i for one find it quite boring. Lets talk about the company!
No one has yet engaged in a discussion that i recently brought up. That being the issue of 40 mil shares to "Private Placement" raising $2mil, at 5 cents a share. The money was spent soon after to extinguish their debt. The points i want to discuss on this forum about this company are

1. Who were the buyers of these shares?

2. Why would they buy when the sp has fallen back fron 16 cents, at a point in time which from a trading perspective would have been the greatest time to hold 2 mil in cash in the last five years? surely not from reading Werleys or Take2s posts?

3. Even more to the point, surley they would have been made aware the funds were to be used to wipe out debt? And who would have seen that as a "good investment"?

Seriously, lets go through the scenarios to answer my questions. If i am being naive, i'll cop it, but thats fine.