They owned the Series G. The Series G had a fix
Post# of 30028
Posted On: 10/01/2015 8:06:32 AM
Re: Finalstretch63 #20550
They owned the Series G.
The Series G had a fixed conversion price of $9 a share. Not bad. But the formula for the "conversion premium" to be paid upon conversion adjusted as the stock price went down. Their dividend rate went from 8.25% to 24%. And if they were paid in shares, they would have been paid at 80% of the average of the lowest 5 trading days less $.005.
In other words, they had an incentive to push the price down to increase their dividend rate and conversion premium. So they could convert some and apply selling pressure at our expense and the expense of the uplisting.
They obviously were doing so if the company bought them out, banned them from trading in our stock for 2 years and labeled them the "significant impediment."
The Series G had a fixed conversion price of $9 a share. Not bad. But the formula for the "conversion premium" to be paid upon conversion adjusted as the stock price went down. Their dividend rate went from 8.25% to 24%. And if they were paid in shares, they would have been paid at 80% of the average of the lowest 5 trading days less $.005.
In other words, they had an incentive to push the price down to increase their dividend rate and conversion premium. So they could convert some and apply selling pressure at our expense and the expense of the uplisting.
They obviously were doing so if the company bought them out, banned them from trading in our stock for 2 years and labeled them the "significant impediment."
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