Thanks M, I'd forgotten that yesterday was the las
Post# of 1088
Posted On: 11/16/2014 1:30:30 PM
Thanks M, I'd forgotten that yesterday was the last day for companies to file something, be it financials or a late notices. Well, this time, unlike the past 2-3Xs, filings didn't come too soon, did they? But at least they were filed on time, like 'em or not.
Glancing over the 'Interim Financial Report', I perused pages 11-13 with more of an eye to detail. Not to be dismissed are the 'Due To Related Parties' & 'Notes Payable' sections. But of far greater interest to me was the extensive 'Convertible Debentures' section, which encompasses A-R, as in a-b-c-d, and so on. In which, A-R describe notes that are due (convertible) as of the end of December, and based on the stocks lowest price within 15 days prior to a notice to convert.
Makes one, at least me, go, Hmmmm, for many reasons. One being where the stock's sp is concerned. Which turns out to be a good thing, as to the conversion rate, should the sp remain low until the end of that time frame. Next is what use was the 6mil share increase (from 30-36mil) put to? And last, but certainly no least, is that there is, 6mil additional shares aside, quite a few coming due on those notes, and will be converted to X amount more shares.
I guess we now know why the a/s was set at 250mil after the r/s brought the o/s down to under 8mil. Btw, inquiring minds would like to know what happened to the initial 22mil share increase, that brought the o/s from 8-30mil after subtracting the 5mil that was supposedly returned to the treasury? If they ever were, that was a short return trip, huh?(lol)
Other than all that good news
, have a great Sunday, all.
Lou
Glancing over the 'Interim Financial Report', I perused pages 11-13 with more of an eye to detail. Not to be dismissed are the 'Due To Related Parties' & 'Notes Payable' sections. But of far greater interest to me was the extensive 'Convertible Debentures' section, which encompasses A-R, as in a-b-c-d, and so on. In which, A-R describe notes that are due (convertible) as of the end of December, and based on the stocks lowest price within 15 days prior to a notice to convert.
Makes one, at least me, go, Hmmmm, for many reasons. One being where the stock's sp is concerned. Which turns out to be a good thing, as to the conversion rate, should the sp remain low until the end of that time frame. Next is what use was the 6mil share increase (from 30-36mil) put to? And last, but certainly no least, is that there is, 6mil additional shares aside, quite a few coming due on those notes, and will be converted to X amount more shares.
I guess we now know why the a/s was set at 250mil after the r/s brought the o/s down to under 8mil. Btw, inquiring minds would like to know what happened to the initial 22mil share increase, that brought the o/s from 8-30mil after subtracting the 5mil that was supposedly returned to the treasury? If they ever were, that was a short return trip, huh?(lol)
Other than all that good news
, have a great Sunday, all. Lou
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