Jim (RE:AMCG, another question),
I have a question about AMCG's last 10Q. It relates to a convertable loan due 3/31/01. Here is the text:
"On October 24, 2000 the Company entered into a total of $643,283 of
promissory notes, with interest at 10%, interest and principal due in full on
March 31,2001. The notes were issued in exchange for notes outstanding in
similar amounts. The entire unpaid principal balance and all unpaid accrued
interest owing, together with all other charges, if any, on these notes, at the
sole discretion of the Company, may be paid by either (i) cash or (ii)
conversion into common stock of the Company at a conversion price of $.25 per
share."
I'm always trying to learn, so feel free to give me the bad news strait. Can I assume that the note holder will get his shares and slowly dump them? If so, all the way down to what price? Will he probably not sell below .25? Or is there no way of knowing based on this information alone. I'm just wondering because I bought some at .25 and am wondering if I am likely to soon see a price much less.
And finally, can I assume that the O/S count will increase significantly after March 31 (the due date)?
I know it's a lot of questions, but they are all related to the note. Hope you can help. Feel free to post here or email me at desertone1@yahoo.com.
TIA,
D Rat. |
