Bob,
Hey Bob, I guess I got it right the first time. A problem with reading comprehension and inexperience. At this point Bob you have shoved both feet in your mouth and are working on an arm. Here's what you said:
<<The new agreement stopped the conversion of stock in October and no stock has been converted from then until the 150 day period is over, NO STOCK IS BEING CONVERTED NOW!! The 2.19 million was converted before the agreement in October. If they have any left they want to sell they can, I never said they couldn't. Get it straight. Your estimate of stock float and dilusion is all off.>>
The company release said, and I quote:
"The company reported that 100 percent of the debenture holders, representing the full 10 million in convertible debentures outstanding, have agreed to place 78 percent of the aggregate outstanding issue or 7.81 million, under the the newly amended terms."
Gee Bob, if 100% of the remaining debenture holders = 10 million and 7.81 of that 10 million is placed under the newly amended terms, what does that leave available under the old terms,,,
Most grade school kids can help you with this math in case you need some help. But just in case here's the answer - cover it up if you don't want me to spoil the surprise for you. (2.19 million is available to convert anytime after October 14, at 85% of the 5 day trailing bid price.)
As far as outstanding and float, they are accurate, stick with your homework and if you still can't get it, call IR on Monday to confirm.
Lets face it Bob, some not everybody can do this stuff well, maybe you should leave the analysis to others with experience.
Cheers Steve |
