Posted On: 08/20/2013 8:52:53 PM
Post# of 36728
Re: flyguy2000 #4260
I downloaded Q1 to compare with Q2. There were convertibles in Q1 but none of them appear in Q2. I assume they were taken out by the settlement to common shares. A large amount of money was owed. In the Q1, I see convertibles for $2,474 + 1,680 + 144,400 + 450,000 = $598,554.
In the Q2, I see
"Shares issued at March 31, 2013 362,050,303
Shares issued on conversion of notes 137,940,000
Shares issued for acquisitions 40,000,000
As of August 15, 2013, an additional 53,000,000 common shares were issued in conversion of
outstanding notes, resulting in total shares outstanding of 592,991,303."
137,940,000 + 53,000,000 = 190,940,000 shares
I see no mention of outstanding convertible notes in the Q2. If you divide $598,554 by 190,940,000 shares, it equals .003. Was the conversion price actually .003 and not .0003?
Did they make a decimal error in the Q2 or did I?
In the Q2, I see
"Shares issued at March 31, 2013 362,050,303
Shares issued on conversion of notes 137,940,000
Shares issued for acquisitions 40,000,000
As of August 15, 2013, an additional 53,000,000 common shares were issued in conversion of
outstanding notes, resulting in total shares outstanding of 592,991,303."
137,940,000 + 53,000,000 = 190,940,000 shares
I see no mention of outstanding convertible notes in the Q2. If you divide $598,554 by 190,940,000 shares, it equals .003. Was the conversion price actually .003 and not .0003?
Did they make a decimal error in the Q2 or did I?
(0)
(0)Scroll down for more posts ▼
