All Debtors really like pps of UCHC down?
Uni Core Holdings :
Ironbridge recently received 97.5 mil shares as part of a settlement for outstanding debt owed them of $1.48 mil. Based in the Virgin Islands, Ironbridge looks like an outfit that acquires debts at a discount and then takes shares of the company in lieu of cash. Ironbridge is limited to getting 9.99% of UCHC's outstanding shares, but if the share count goes up, Ironbridge can get additional shares up to the 9.99% limit.
Tonaquint reported owning just under 46 mil shares in May, the proceeds from converting their two convertible notes ($2.53 mil) back in late 2011.
Calculating the latest share count, Ironbridge based their 9.99% figure on 879 mil shares, so adding in their 97.5 mil shares gives a current share count of approx 975 mil shares, so figure 1 billion shares, giving a market cap of approx $780 K.
At the current pps of .0008/shr, Ironbridge's 97.5 mil shares are worth only $78 K, and Tonaquint's 46 mil shares (if they still have them) are worth only $37 K.
What do you think?