Wednesday, April 16, 2014 6:18:47 PM
The other $2 million is suppose to be paid in EFLN stock. Like I said before at any conversion price at or under .001 the A/S would have to be increased again significantly. $2 million at today's closing price would be another 3.3 Billion shares.
EAFN may be paid partly in Preferred A shares. I say partly because there isn't enough left to issue to cover the $2 million. The par value for these shares is .001 and are convertible into 10 common shares. Assuming these shares are bought at par value, the fully diluted conversion price into common stock is .0001. Again, that's assuming they're bought at .001. EFAN already has 445 Million Preferred A shares of the 1 Billion Authorized.
Fully diluted, EFLN would need to authorize another 10.01 Billion to satisfy the current Preferred A and B stock.
I get what you're saying. Even if the A/S was increased to satisfy the payment of the $2 million the chances of those shares reaching the market are slim. EAFN has held 445 million Preferred A shares for some time now and has yet to convert any. The debt is in friendly hands.
@OTCMondragon
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM