There is little one can do to figure out what's to

There is little one can do to figure out what's to come with the convertibles although there are some assumptions one can make to get an idea. Having researched a couple of the deals MRIB has done, most seem to be consistent with respect to value received and the funding companies probably have the same maturity, redemption and non-dilution terms. That said, you will still always be at least 90 days behind in estimating as you must wait to see the quarterlies to determine what convertible deals will mature in what is most commonly a six month term.

Currently we are awaiting the next quarterly which is actually due today if MRIB want to avoid a negative change in their OTC listing so I would expect to see them after close today. So when those come out, identify the deals done, calculate the number of shares and plan six months down the road which is when they will most likely be issued. For instance, if 5 million shares were put up for cash at $.02 back in July, those would mature in December and would be issued out at market price. If market price is $.002 MRIB would have to deliver 50 million shares not 5 million. Therin lies a significant problem. But we will have to wait for the report to get any idea of what the next three months holds. Suffice to say, if they did in fact do deals over that July to September period, they will end up issuing a highly dilutive amount of shares due to the loss in PPS up until maturity.