Alex Kanakaris (CEO of KANA) called me back today. He assured|
me that things are shaping up good and as planned. They are planning
to make a press release by the end of the week addressing some
questions concerning the 504 placement which partially contributed
to the price drop in recent weeks. I believe it will include details
as to how much capital was raised, how many shares were issued,
and how they are using the capital, and so on.
Another important thing - they expect to become blue-skied by
next Monday in about 40 states (that allows brokers to recommend
the stock, etc) - which I think is going to help the stock quite
He also mentioned to me that there are some acquisitions under
works which might happen sometime soon. I think all the 504
placement capital is going to be used for these acquisitions.
After talking to Alex@KANA, Prima, and KeyTrade.com, I am
more assured now. I will hold onto KANA for a long time.