Ann: Trading Halt, page-46

I think he was telling the truth, but what happened was the accountant strolled up sometime in June and said listen we can issue some more shares and because we have all these tax benefits to distribute it will get done quick and you will have more cash to play with and not have to go back to the market for sometime.
He can't be abreast of every detail every minute so while he was overseeing the dig and managing all the other little problems. He paper work and tax stuff tends to get forgotten about until June 30 looms up. Nobodies perfect, but this did happen last year as well so lets hope things get managed a bit smoother next year.