Ubiquitech Software Corp (UBQU)

[ChampionOfTheSun]

To hop in here

- Jeremy is 100% right, all interest on notes has been getting paid via cash. No indication these will ever tack onto the balance and lead to more shares.

- also - I strongly believe (without concrete evidence) that the lender cannot demand an increase in A/S.
--- they can convert at sole discretion
--- but they don't have sole discretion to change the share structure of the organization where they are an "outsider"

- in public comments they have said there are circumstances where they can force him to take cash, but they didn't elaborate nor do their financial statements - and we haven't seen much indication recently of them doing this
- but the reason to not elaborate is the weakest reason to have this authority is maxing out on the share count, so what good is specifying. Would cause more concern than comfort for many.
- but if it is debt, and we have cash to pay --- it would be absurd if they could demand an impossible unauthorized method of payment then cry default. --- its a loan, and we can pay you.


I still have outside hope - that the circumstance when they can force cash is really when either quarterly income is above a threshold, or if working capital ratio is above a threshold... since our most profitable quarter coincided with the cash payments we have seen... if so, we are at a turning point where we can hopefully see this again soon.