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Microcap & Penny Stocks : 504 Reg D and Beyond - Going public without an Underwriter
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To: american dreamer who wrote (36)7/11/1998 6:01:00 PM
From: Chloe R  Read Replies (1) of 50
 
Yes, that certainly is true. I am not considering investment in this company, I'm just trying to see if they were offering was even a legal structure. I've seen quite a few but was unclear on this particular one.

Here's the scenario. They are doing a $1 million 504 without any assistance from anybody so it's going slow I guess. They approached me about doing a bridge loan until they get their funds. They said I could have convertible debt that is convertible to shares at a heavy discount to the price in the offering. I was just wandering whether they'd have to reduce the $1 million offering max to account for the convertible debt or whether the debt is not subject to the $1 million max. The confusion to me is that it is immediately convertible, therefore pretty equivalent to the securities being offered.

Again, I said no. I just was curious.

Thanks,

Clo
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