from the 8K
(c) all of the issued and outstanding shares of the Class B NonVoting Common Stock (i.e., 10 shares) held by Green Aero were surrendered to and exchanged by the Company for 4,000,000 shares of Common Stock, Par Value $0.001 per share, of the Company, which shares of the Company will now be owned by Green Aero; and
(d) the Acquisition Corp. Debentures, together with the underlying shares of Acquisition Corp.'s common stock, Par Value $0.001 per share, into which the Acquisition Corp. Debentures were convertible from time to time, were converted into identical debentures of the Company (the "the Company Debentures"), together shares of underlying common stock, Par Value $0.001 per share, of the Company into which the Company Debentures may be converted.
As is the case when any Convertible Debentures are issued, it can be anticipated that the holder thereof will seek repayment via a conversion of debt to equity, and that, accordingly, most of the debt evidenced by the Debentures will be converted into shares of the Company, a substantial amount which will then be sold in the open market. This could have a depressing effect on the price of shares of the Company. |
