The company has finally gotten the paperwork toget
Post# of 1352
Posted On: 02/27/2014 9:01:49 PM
Re: learningthetruth #134
The company has finally gotten the paperwork together to move forward. Remember when I said this:
I got closure with management combined with capitulation.......so I didn't have to buy on the move up with closure...i got to buy on the move down with closure. Too funny!!!!!
The closure I wanted was the issuance of shares to Cirque Energy II. I thought they would raise the authorized and very possibly consolidate shares as well. Instead, they raised the authorized by fewer than i thought...and issued "preferred shares" to ease the dilutive situation. Not only did they do that...they grabbed half a million in cash with a third of that upfront at closing. When I read back further in that filing.....the corrective measure of the note holder is based on Scholes........but the fixed price is just that....fixed. So here is the key:
“ Market Price ” means 65% of the arithmetic average of the three (3) lowest Closing Bid Prices of the shares of Common Stock during the Measuring Period; provided, however , that if the arithmetic average of the three (3) lowest Closing Bid Prices of the shares of Common Stock during any twenty (20) consecutive Trading Day Period is less than $0.01, then “65%” above shall thereafter be permanently replaced with “60%” in this definition of Market Price. All such determinations are to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such Measuring Period.
“ True-Up Conversion Price ” means, with respect to a particular date of determination, the lower of (i) the Conversion Price then in effect and (ii) the Market Price. All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during any applicable Measuring Period.
So in six months...you will have roughly 6 1/2 million shares come into the outstanding(if not paid), to a worst case scenario(imo) of around 21 million(if not paid) amount. That's based on having a market cap of less than $10,000,000. That leaves roughly $350,000 within 7 tranches. In a nut shell....that's a total of 20 million based on a fix @.025 to an extreme of 75 million based on a worst case scenario (imo). Any scenario would take over a year to complete. Nothing happens till late august...so we are looking at a best case scenario given the timing of everything. I am also excluding different financing.
To recap...management is now complete......day to day financing is complete..most importantly.."no consolidation of shares"..............and all you have to do is sit back and wait. Buying along the way of course.
Like to sit and wait for the correct opportunity. So at this point, it can go up or down.....it's neither a buy or sell for me currently. With that said....it is leaning more towards a buy with this progression. I need some closure here with management...so I'll buy on the correct move up(closure) or down(capitulation) only.
I got closure with management combined with capitulation.......so I didn't have to buy on the move up with closure...i got to buy on the move down with closure. Too funny!!!!!
The closure I wanted was the issuance of shares to Cirque Energy II. I thought they would raise the authorized and very possibly consolidate shares as well. Instead, they raised the authorized by fewer than i thought...and issued "preferred shares" to ease the dilutive situation. Not only did they do that...they grabbed half a million in cash with a third of that upfront at closing. When I read back further in that filing.....the corrective measure of the note holder is based on Scholes........but the fixed price is just that....fixed. So here is the key:
“ Market Price ” means 65% of the arithmetic average of the three (3) lowest Closing Bid Prices of the shares of Common Stock during the Measuring Period; provided, however , that if the arithmetic average of the three (3) lowest Closing Bid Prices of the shares of Common Stock during any twenty (20) consecutive Trading Day Period is less than $0.01, then “65%” above shall thereafter be permanently replaced with “60%” in this definition of Market Price. All such determinations are to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such Measuring Period.
“ True-Up Conversion Price ” means, with respect to a particular date of determination, the lower of (i) the Conversion Price then in effect and (ii) the Market Price. All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during any applicable Measuring Period.
So in six months...you will have roughly 6 1/2 million shares come into the outstanding(if not paid), to a worst case scenario(imo) of around 21 million(if not paid) amount. That's based on having a market cap of less than $10,000,000. That leaves roughly $350,000 within 7 tranches. In a nut shell....that's a total of 20 million based on a fix @.025 to an extreme of 75 million based on a worst case scenario (imo). Any scenario would take over a year to complete. Nothing happens till late august...so we are looking at a best case scenario given the timing of everything. I am also excluding different financing.
To recap...management is now complete......day to day financing is complete..most importantly.."no consolidation of shares"..............and all you have to do is sit back and wait. Buying along the way of course.
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