Paradigm Medical Industries Inc. (PDMI)

[Qone0]

Carlito, to all. got pm from bic. said right now HDSN IS THE PROBLEM WITH SHARES. THEY HAVE BEEN A HEADACHE FOR ME TOO.

this seems to be our culprit. i wonder how they got these shares?

Read the 10Q, this has $1,251,000 in CD's in it, at a 45% discount to the 3 day LOW intraday average price. They can print them much faster than you can buy them.


As of March 31, 2009, there was an outstanding balance of $1,251,405 in principle remaining on the convertible notes.


The notes mature in three years from the date of issuance, and are convertible into the Company's common stock at the noteholders' option, at the lower of (i) $9.00 or (ii) 60% of the average of the three lowest intraday trading prices for the common stock on the OTC Bulletin Board for the 20 trading days before but not including the conversion date. Accordingly, there is no limit on the number of shares into which the notes may be converted. On June 16, 2008, the Company agreed to reduce the applicable percentage for calculating the conversion price from 60% to 45% of the average of the three lowest intraday trading prices of the Company's common stock. The Company agreed to this change as a condition to receiving further funding for its ongoing operations on June 16, 2008.