The Yahoo board really has no clue as to what an S-1 filing is and hence are doing a good job of trying to create fear. An S-1 is just a registration of shares from restricted to unrestricted meaning when this PIPE (Private Placement) was done back in June of 08 the company sold 42M shares to various investors at $2.50...these included Atticus, Soros, and many other smaller players who are listed in the S-1. Legend sold these shares at $2.50, a wise move as the market in general and LGDI stock price collapsed right after. When those shares were sold they were restricted from selling on the open market for a certain period of time and now that restriction has been lifted by this S-1. Now the PIPE'd entities have the OPTION to sell...key word OPTION. So hey if these guys want to pay $2.50 and sell at .80 I'll gladly pick up some and I'm sure the IFFCO would as well. Remember that these sales would not increase the outstanding share count as they are already included in the OS and any >10% holder would still be required to file a form 4.

That being said when these guys on the yahoo board keep shouting such things as "dilution", "Atticus and Soros selling", I'm out!" "we are selling 42M shares at .60 cents" they obviously didn't read the S-1 filing and are there to most probably work down the share price for their benefit. If anyone disagrees just read the filing.

"In June 2008, the Company completed a private placement offering (the “BMO Offering”) of 42,000,000 shares of common stock to institutional investors at a purchase price of US$2.50 per share. BMO Nesbitt Burns Inc., Wellington West Capital Markets Inc. and BBY Limited acted as agents for the offering and received a commission of 5% of the offering proceeds and two year warrants to purchase 840,000 shares of common stock at an exercise price of US$2.50 per share."