Omar,a quick question, you state that< All of the debentures have been converted on> How is this possible? You have made multiple recent placements,excluding the one in mid summer. To quote your 8-K outlining the terms of these placements(typical Reg S)
"The terms of the conversion rights are such that the holder of these
notes may convert all or a portion of the principal and interest due
at any time after 45 days " It hasn't been 45 days since these placements(3),thus (IMO) your statement can't be true. Could you please explain.TIA...DD
PS: I see placements On January 6, 1998,December 23, 1997(2),and one on October 22, 1997(which may have been converted)shown in your Jan. 8-Ks.
PSS: one last question,are you using these recent placements to avoid conversion on prior placements? Simple terms borrow from Peter to pay Paul?
PSSS: would you also care to comment on this statement from one of the 8-K "plus a 2% unaccountable expense allowance for its services."? TIA |
