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Every deal is slightly different and you can read the Q's to see who has which notes and how they are allowed to convert. By comparing prior Q's you can see who converted.
Basically, the note holder tells the company they are 'cashing out' and want their shares. The co then issues them their shares and they are free to sell at will, which they usually do.
The fact that people are converting is neither positive or negative.
if you look at L2 it's been a mix of converting debt and retail bailing (panicking). If the converts let up this will run hard.
Based upon all the b*tching and whining I think we are close to a bottom. Think I'll place a couple 1M plus bids in the next few weeks.
It's convertible debt being converted into shares. Did anyone read the last 10 Q? Converters don't care about price as they get paid in discounted shares. The health of the company is irrelevant in most cases.
It's ok to have debt on the books as long as it was used to produce productive cash flows. It looks like AGTK receives 20% of My Life's Gross each month and rent begins 6 months after they get a CO (certificate of occupancy), which means AGTK should start seeing revenues from this tenant in less then a year.
strong reversal today...would like to see volume increasing as we move.
The AS was increased to accommodate all loans being converted at the lowest possible price. So unless they take out more loans like this, Dror will NOT have to increase the AS again.
The converts do their converting so they can cash out and make a return on their capital. They don't make these loans with the hope that the SP is going to increase. They make the loans knowing at almost any time they can convert and make a quick 30% on their money by cashing out. It generally has nothing to do with the 'health' of a company.
Price is irrelevant for converts as they get their shares at a discount.
just saw a 37K share trade print in the .17's...volume is increasing.
final flush before this things moves...might close green, huge bids showing up
L2 is extremely thin right now...would love to see a couple 10K share buys in the .17+ range.
Lot's of volume for the Tuesday before thanksgiving. 50/50 this closes green.
picked up 10K more and pushed the ask...I'd love to see this start to run!
Not true, taken directly from the PR:
The Ex-Dividend Date is therefore the close of trading today (11/25/2014). This is due to the logistics of the stock market as US Stock market trades settle T+3 (3 days for settlement of all trades). The last day to purchase mCig, Inc. shares and be recorded as a record owner before the record date (11/28/2014) is today.
If you buy shares today, you'll get the divi.
Any one know when we'll hear something about today's case?
Short run you may be right, but if ATTBF does what they say, then the SP will work itself out over time. Just need some good news!!
I agree, I think the downswing is just about over. They may try one final flush before releasing it.
who trades a few hundred shares below the bid?? it happens almost every day...
Let's see if those 1M share asks are for real...
They always hid my order whenever it's over 5K shares...very frustrating. Does anyone have the link showing new insider buys?
2 M shares on the ask at .109; need to find a way to get through it.
they released an 8K a couple hours ago...
Why did they need to move their office to Beverly Hills??
Looks like a lot of convertibles were converted beginning in September...
likely pre arranged block sales.
MM's have been hiding my 18K share bid at .14 all day
Increasing volume and we just turned green!
Good deal, TD is pretty good. Good luck!
Or you could open a TD account. It's much easier to get filled with Canadian shares since they are based there.
I've been able to purchase w/ TD no problem. I even get filled in Can on occasion b/c of the low volume here.
Volume first, then price appreciation...can't happen any other way (at least not sustainably).
I understand that they needed to go this route at the beginning, but if their revs are growing they should be able to find a better way to fund operations.
Hope it's more then 60%, but I'll take what I can get. The company needs to find a better way to finance itself b/c shareholders aren't going to stick around for long if this continues.
2M shares just went at .0076 - $15K; tell me that's not a note holder converting...let's hope the majority of note holders have done this over the last month so we can get this over with.
When are they supposed to report?
www.abattis.com/s/news.asp?ReportID=682964