Friday, April 24, 2015 4:11:52 PM
But, pending an increase of authorized shares.
I therefore suggest investors focus on expected authorized shares, not 400K remaining out of 300M authorized, as the principals are certainly incented to find a way to increase authorized shares.
Another incentive is that they hold many of the outstanding preferred shares, which are also convertible to common on a 1:1 basis pending authorized share availability.
A final incentive is that they hold debt from the company convertible into about 6M shares at .02/share.
The company also has a history of providing shares for services (and also for needed cash -- 8M shares in 2014 at .01/share). In 2014, there were 16 transactions where a total of 13.6M shares were exchanged for debt or services. NET: I speculate that the authorized number of common stock will soon be doubled.
Indeed, for those interested in investing long term in BCCI, the company has shown a continued willingness to accept cash from investors at a pps well below market.
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