Tuesday, September 16, 2014 9:22:01 PM
I am impressed with the volume. At .0002 per share, that means a big $25,000 in dollar volume today.
with 60,000,000 shares at .0001 that equates to $6000. Assuming conversion of debt at .000035 that means for every $1,000 there is roughly 30,000,000 shares issued. So, assuming $25,000 of toxic debt is converted, there goes another 750,000,000 shares issued, having a market value of $75,000 (assuming a price of .0001 per share).
Based on Four Billion Shares Outstanding, assuming one has to reserve the Two Billion Four Hundred Thousand Shares reserved for the conversion of the preferred, and you are out of common shares very quickly.
Again, we have not seen the terms of the preferred, nor have we seen the full description of the preferred, but assuming you have to reserve the common, there are two options available (1) Increase the authorized or (2) Do another reverse.
May I humbly suggest that Steve find a CFO or someone who knows something about finance and he just focus on hustling investors and finding a business model that people can believe in.
This is a sad commentary on capitalism. Even Joab could not endure this type of pain and suffering.
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