As at May 17, 2013, the Company had cash and cash equivalents balance of $210,625 and a deficit of $32,925,006
They are almost completely out of money. If they do ever close a financing, diluting you below current trading prices to get money in the bank, the lenders are set up to sweep it out at 15% interest.
The amended debenture agreement includes a cash sweep whereby the Company is to repay the debenture holders if the cash balance in any fiscal quarter end exceeds certain thresholds. In the event that the cash balance of the Company exceeds $1,000,000, the Company is required to repay 35% of the amount over $1,000,000 up to $350,000. If the cash balance at any quarter end exceeds the $2,000,000, in addition to the $250,000 payable above, the Company is also required to pay to the debenture holders 50% of the amount over $2,000,000.