Fantastic news, Tutter! I particularly enjoyed rea
Post# of 7769
Posted On: 06/23/2014 10:31:17 AM
Fantastic news, Tutter! I particularly enjoyed readiing Bob's statement:
This Typenex note, which started out with a balance a bit less than $300K, is now at $0. This payment completes the company's "prepayment of its outstanding convertible debt."
Apparently, about half of the remaining balance converted to shares based on a discounted price. Assuming an $.08 conversion price, about 437,000 shares hit the float. Though we still have Seaside, which does not appear to be aggressively hitting the bids and dumping shares, I anticipate an even further reduction in the selling pressure after these final Typenex shares have been absorbed.
As we have been saying for months, the company has not written any paper with the toxic convertible noteholders since Bob's birthday, October 22, 2013. Anyone who does not see the distinction between these toxic financiers and company insiders (whose convertible debt, if converted, would convert at $.17 per share), does not understand how to properly analyze investment risks and should stay away from the stock market. Moreover, with the last toxic convertible noteholder holding its last batch of shares, there are no more toxic noteholders who are incentivized to manipulate the sp lower in order for them to receive more shares. So, by eliminating this debt and by completing its prepayment of all this toxic debt, Scrips has virtually closed multiple fire hydrants of selling pressure. Sure, there will always be retail selling, profit taking, derisking, and selling from day traders and flippers, but today Scrips has closed a painful chapter in the company's story as it methodically transitions into a highly successful company.
The tide has turned. Kudos to Bob for navigating this ship from the perfect storm into much smoother waters.
Quote:Emphasis supplied.
ScripsAmerica is very pleased to announce that consistently increasing revenues have enabled the company to prepay its convertible notes, leaving any remaining convertible debt in the hands of company insiders.
This Typenex note, which started out with a balance a bit less than $300K, is now at $0. This payment completes the company's "prepayment of its outstanding convertible debt."
Apparently, about half of the remaining balance converted to shares based on a discounted price. Assuming an $.08 conversion price, about 437,000 shares hit the float. Though we still have Seaside, which does not appear to be aggressively hitting the bids and dumping shares, I anticipate an even further reduction in the selling pressure after these final Typenex shares have been absorbed.
As we have been saying for months, the company has not written any paper with the toxic convertible noteholders since Bob's birthday, October 22, 2013. Anyone who does not see the distinction between these toxic financiers and company insiders (whose convertible debt, if converted, would convert at $.17 per share), does not understand how to properly analyze investment risks and should stay away from the stock market. Moreover, with the last toxic convertible noteholder holding its last batch of shares, there are no more toxic noteholders who are incentivized to manipulate the sp lower in order for them to receive more shares. So, by eliminating this debt and by completing its prepayment of all this toxic debt, Scrips has virtually closed multiple fire hydrants of selling pressure. Sure, there will always be retail selling, profit taking, derisking, and selling from day traders and flippers, but today Scrips has closed a painful chapter in the company's story as it methodically transitions into a highly successful company.
The tide has turned. Kudos to Bob for navigating this ship from the perfect storm into much smoother waters.
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