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To: GARY P GROBBEL who wrote (2163)7/9/2001 10:59:25 PM
From: GARY P GROBBEL  Read Replies (1) | Respond to of 120415
 
james...ref smdx.....you start w/4.3m common...then add 2m in exchange for the $1m cash infusion. then the notes, IF converted, come in at .57 ea for the $900k...that equals an add'l 513,000 to get the $900k, which is in addition to the $1m. so for $1.9m we give up 2.5m shares.

then, IF the 22m wts come in, the company gets about $12.5m in cash for funding.

i think what you did was divide $900,000 by 0.57 and got 15m.


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