GLBT what will happen to Notes Convertible to 685B shares?
from most recent 10KSB/A....
Summary Information of Our Obligation to Issue Common Stock
The table below summarizes our outstanding common stock and our obligations to issue common stock pursuant to convertible debt and warrants as of August 31, 2007:
Assumed Conversion Conversion % of
Convertible Principal Mkt Value Price at Shares at Outstanding
Instrument Balance Warrants Per Share (b) Assumed Mkt (c) Assumed Mkt If Issued (d)
Investors Notes
Investors Note 2 $ 21,787 0.0001 0.000015 1,452,466,667
Investors Note 3 1,569,390 0.0001 0.000015 104,626,000,000
Investors Note 4 3,800,000 0.0001 0.000015 253,333,333,333
Investors Note 5 1,250,000 0.0001 0.000015 83,333,333,333
Investors Note 6 1,750,000 0.0001 0.000015 116,666,666,667
Investors Note 7 1,500,000 0.0001 0.000015 100,000,000,000
Investors Note 8 1,200,000 0.0001 0.000015 80,000,000,000
Investors Note 9 160,000 0.0001 0.000015 10,666,666,667
Investors Note 10 160,000 0.0001 0.000015 10,666,666,667
Investors Note 11 250,000 0.0001 0.000015 16,666,666,667
Investors Note 12 200,000 0.0001 0.000015 13,333,333,333
Investors Note 13 180,000 0.0001 0.000015 12,000,000,000
Investors Note 14 160,000 0.0001 0.000015 10,666,666,667
Investors Note 15 150,000 0.0001 0.000015 10,000,000,000
Investors Note 16 150,000 0.0001 0.000015 10,000,000,000
Investors Note 17 120,000 0.0001 0.000015 8,000,000,000
Interest Note 523,158 0.0001 0.000015 34,877,200,000
Transferred Debt (a) (3,000,000 ) 0.0001 0.000015 (200,000,000,000 )
Total Investors Notes $ 10,144,335 676,289,000,000 98.21 %
Titan Note 875,000 0.0001 0.0001 8,750,000,000 41.57 %
Total Note Convertibles $ 11,019,335 685,039,000,000
Investors Warrants
Investors Notes 1-5 478,112,963 0.0036
Investors Notes 6-7 2,570,000 0.0009
Investors Notes 8-17 190,000,000 0.0002
670,682,963 5.17 %
If all convertible instruments converted, as above 98.24 %
