Posted On: 06/18/2014 12:42:24 PM
Post# of 807
Thanks incorrect.
Note holders dumped shares at $1.00 each. Nice little payday for them...
On June 17, 2014, the Company issued an initial amount of 3,769,649
shares of Series B Preferred Stock at a price of $1.00 each. A number of the existing outstanding Convertible Loan Notes as well as Loans to the Company were cancelled and replaced with the shares of Series B Preferred Stock. This resulted in an immediate initial reduction of $3,769,649 of the Company's short and long term debt.
Note holders dumped shares at $1.00 each. Nice little payday for them...
On June 17, 2014, the Company issued an initial amount of 3,769,649
shares of Series B Preferred Stock at a price of $1.00 each. A number of the existing outstanding Convertible Loan Notes as well as Loans to the Company were cancelled and replaced with the shares of Series B Preferred Stock. This resulted in an immediate initial reduction of $3,769,649 of the Company's short and long term debt.
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