OILEX (OLEX) Message Board

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Microcap & Penny Stocks : OILEX (OLEX)

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To: Richard L. Williams who wrote (2469)	1/13/1998 11:35:00 AM
From: OFW	Read Replies (3) of 4276

Can someone help me with the math? If you allow conversion at 65% doesn't that mean that you're effectively paying 35% of the face value as the cost of obtaining money. And if you add in the 10% commission to the capital firm doesn't this mean that Oilex paid 45% of the face value of the debenture in order to obtain cash for the other 55%. And this doesn't factor in any discount offered from the face like they did on the last convertible (discounted to 80%). Sorry guys, I need a math or finance expert. Exactly what interest rate is this equivalent to? Even my credit card only charges 19.8%! Offie

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