There is no $0.05 conversion price in place. Th
Post# of 30066
Posted On: 09/29/2016 4:30:05 PM
Re: investorxc #24008
There is no $0.05 conversion price in place.
The Series E converts at 65% and the Series H converts at 75%.
The Series E converts at 65% and the Series H converts at 75%.
Quote:
Previously with the 25% discount conversion price, the note holders wouldn't actually make 25%. As an example if the price was .10, they would convert at .075, but as they sold, the price would drop-as long as they sold above .075, they would make money. Now that there is a fixed conversion price of .05, they got the 25% as an increase to the principle amount and an additional 10% on top of that for agreeing to the floor. So if they sell at .05, they make 35% when they are paid off, but they can actually sell down to .0325 and still make money.
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