Bob,
You incorrectly post:
<<If you had done YOUR research you would know that 7.81 million remains to be converted right now and that will not take place until March 14...>>
Actually that was 7.81 million of 10 million. Oops Bob you forgot the other 2.19 million bucks of stock that was available to convert at any time between Oct 14 and now. You beginning to get it Bob? That 2.19 million could be hitting the market at any time including,,, RIGHT NOW. There's no restriction on that 2.19 million remember Bob? A little advice Bob: "Boneing up" would avoid you becoming a bone head.
Next Bob you incorrectly said:
<<With the price moving up as it is the conversion will probably take place at the contracted 3.50 level>>
Well Bob, only if stock price is 15% higher than 3.50 in March, because the debentures convert at the lesser of 3.50 or 85% of the market price of the common,,, Remember the terms of conversion Bob? That means if the stock price is lower than 3.50 lots more shares than the 2.231 million you suggested would be issued to convert the debentures,,,
You also incorrectly said: <<There is not 19-20 million shares outstanding>>
Bob you need to bone up a bunch more on the issue of outstanding shares, fully diluted outstanding shares and float. We are presently at approximately 19 mill issued and outstanding and 9 million float with fully diluted outsanding at between 22-27 million.
You went on to say: <<you are the one who should be examining your own sloppy work!>>
"My sloppy work" - that's pretty funny. Bob do yourself a favor. Try and regain some credibility by going back and doing your homework - and try to do it right this time. Figure out the issued and outstanding without me telling you exactly how to do it.
It kinda makes you look stupid when you flame me Bob and you have the facts all wrong. Heck if you don't know how to figure this out due to your inexperience, don't be afraid to say so.
Cheers Steve |
