PE pennies

[Potse]

VS_UT...picked up a trading position.....

I picked up a position in VS_UT in the last week or so. Strictly looking at this as a possible nice trade from the sub-penny or penny area sometime between now and around mid-January or so.

All of the principal and/or interest on three out of the four toxic financings has now been completely paid off. According to the December 4 recent press release the company plans on paying off the final debt obligation sometime in January. According to the filings that particular debt obligation can not be converted until January 12, 2013, so assuming that the company pays off the debt with primarily cash that should pretty much eliminate much of the continual downside pressure caused by the floorless financings.

The CEO still hasn't disclosed exactly the terms of his Senior Preferred shares that he received as part of this debt reduction, nor how his Senior Preferred shares interact with the normal preferred shares, so that is an issue that has a a pretty big influence on how the share structure of the company looks like. I'm guessing the fully-diluted share count is probably somewhere in the 155-316M area.

But with the elimination of the floorless financing, combined with what appears will be an increased investor awareness campaign, I'm making a bet there might be a trading opportunity here eventually.

Kyle Gotshalk and Cherish Adams have resigned as officers of VSUS Technologies Inc. Their resignations were part of a debt settlement agreement and not due to any disagreements or conflicts with the company or its management. VSUS Technologies has entered into a debt settlement agreement with Ararat LLC that will reduce the company's liabilities by approximately $500,000. The Company has also paid in full two convertible promissory notes with Asher Enterprises totaling approximately $80,000 in principal, interest, and premium. The Company still has a third note with Asher it intends to pay in full next month. The retirement of this debt not only significantly reduces company liabilities but also the expense associated with carrying that debt.

http://ih.advfn.com/p.php?pid=nmona&article=55301941