A lot of things happened between the reverse split and now that make your calculation too simplistic.
We rode the Discover Growth toxic financing from $7.50 down to $1.30. Then the company bought them out - so they are gone.
Then Magna came in with its toxic financing (equity and debt).
Dominion converted its previously non-toxic debt into toxic debt in connection with Magna's investment.
We went from $1.30 to $0.395 when the Series E by its terms converted into super toxic financing in January, 2016. (And there is a ton of Series E outstanding.)
AMBS has continued to issue more and more toxic financing since Magna's investment. And AMBS has used some of the funds to buy out Magna (we don't know exactly how much).
We will know a little more when the 10K is filed. But the bottom line is that we are literally swimming in toxic financing soup that is no where near being paid off.
The only thing that will save us is for the share price to increase and limit the damage that the dilution of the toxic financing will do to us.
We rode the Discover Growth toxic financing from $7.50 down to $1.30. Then the company bought them out - so they are gone.
Then Magna came in with its toxic financing (equity and debt).
Dominion converted its previously non-toxic debt into toxic debt in connection with Magna's investment.
We went from $1.30 to $0.395 when the Series E by its terms converted into super toxic financing in January, 2016. (And there is a ton of Series E outstanding.)
AMBS has continued to issue more and more toxic financing since Magna's investment. And AMBS has used some of the funds to buy out Magna (we don't know exactly how much).
We will know a little more when the 10K is filed. But the bottom line is that we are literally swimming in toxic financing soup that is no where near being paid off.
The only thing that will save us is for the share price to increase and limit the damage that the dilution of the toxic financing will do to us.
Quote:Maybe someone here can explain something for me: After the R/S, we were at about 7 million shares, today maybe 40- 50 million. So say the lenders converted 35 million shares since the reverse split. At say an average price of 15 cents (they have been diluting and selling since last Fall- many shares were no doubt converted above 20 cents) that would be about $6- 7 million of the balance owed could already be repaid- correct?
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