A muster case for the "Floorless Preferred Stock/Debenture" thread:
Message 15075560
There is one part which is not mentioned in your post:
The "delay" was for 2 weeks, actually the company has been forced into declaring conversions and delivering notices:
>>>>>>>>>>>>>>>>>
On November 15, 2000, we entered into an agreement with the selling
securityholders under which we agreed to deliver a conversion notice to them
on or before January 1, 2001, requiring the conversion of an aggregate of at
least 1,000 series D preferred shares.
On November 27, 2000, we delivered a
conversion notice to the selling securityholders requiring the conversion of
an aggregate of 1,000 series D preferred shares, of which, as of December 5,
2000, 583 shares have been converted into 4,950,015 shares of common stock.
Such notice was not delivered in connection with our November 15, 2000
agreement. |
