Please don't think I'm bashing when asking if more of the floorless has been placed..From the 10K "Two of the investors have committed
to purchase another $800,000 of the debentures if certain conditions are met
when a registration statement for the resale of the shares of common stock
issuable upon conversion of the debentures is declared effective by the SEC."
Was this additional $800K of floorless placed?..Will they have to register an additional 3.5mm shares of stock (or escrow)to cover?
$800,000 / $.30 =2,666,667sh,,,,2,666,667 X 30%(discount)=800,000sh
2,666,667 sh + 800,000 shares= 3.47mm additional shares on conversion at current price of .30/sh to cover an additional $800K placement.
DD |
