There was a .945 difference in the price for the s
Post# of 5066
Posted On: 11/08/2013 10:57:50 AM
Re: patientgal #3914
There was a .945 difference in the price for the satisfaction of Caven debt, however those shares were also for the cancellation of ALL of Caven's outstanding warrants to purchase common shares of BMSN. That has to be worth a good bit as well.
Plus deals where companies give common shares to satisfy a debt are often done at a discount to the company that is owed money in order to create an incentive to take the shares as opposed to demanding their money.
If you notice in the contract, the BMSN shares given to satisfy the first $70,000 worth of debt was given at a 67% discount to the closing price per share.
Below is a copy of the contract for all who wish to read it.
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