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Lol, its 1:00 am on New Years Eve.
A fact not lost on these criminals putting out the hit pieces
Company should call for a halt, then prepare defense, but they are probably all asleep.
If someone can republish the hit piece externally (google docs?) it would be much appreciated.
Though reading it will probably only make me more angry...
NYC bans smoking outdoors
Smoking is ban includes Times Square!
If only a company invented a cig where there was no second hand smoke they would make a killing. Anyone know of a company like that? I would invest in them!
Simply selling to the market in Times Square could be worth hundreds of millions of dollars annually.
http://www.nytimes.com/2011/02/03/nyregion/03smoking.html?_r=1&partner=rss&emc=rss
Smoking Ban for Beaches and Parks Is Approved
By JAVIER C. HERNANDEZ
Published: February 2, 2011
After a bitter debate over individual liberties and the role of government, the City Council on Wednesday handily approved a bill to ban smoking in 1,700 city parks and along 14 miles of city beaches.
Smoking would be banned in places like Bryant Park under a bill the City Council passed on Wednesday by a 36-to-12 vote.
By a 36-to-12 vote, the Council passed the most significant expansion of antismoking laws since Mayor Michael R. Bloomberg pushed to prohibit smoking in restaurants and bars in 2002.
The Council speaker, Christine C. Quinn, said the ban was an affirmation of the rights of nonsmokers. “Their health and their lives should not be negatively impacted because other people have decided to smoke,” Ms. Quinn said at a news conference.
Opponents of the bill spoke strongly against it; several members derided it as an overly broad law that would infringe on individual liberties.
“We’re moving towards a totalitarian society if in fact we’re going to have those kinds of restrictions on New Yorkers,” said Councilman Robert Jackson of Manhattan, who described himself as a marathon runner and nonsmoker.
Others said the ban would set a dangerous precedent. Councilman Daniel J. Halloran III of Queens said, “Once we pass this, we will next be banning smoking on sidewalks, and then in the cars of people who are driving minors and then in the homes.”
A compromise that would establish designated smoking areas outdoors was scuttled by Council leaders in favor of an all-out ban. The bill will become law 90 days after Mr. Bloomberg signs it, which he is expected to do this month.
“This summer, New Yorkers who go to our parks and beaches for some fresh air and fun will be able to breathe even cleaner air and sit on a beach not littered with cigarette butts,” Mr. Bloomberg said in a statement. Enforcement of the law will fall to the Department of Parks and Recreation, which can impose $50 fines.
Councilwoman Gale A. Brewer of Manhattan, a longtime advocate for stricter antismoking laws, said increasing revenue for the city was not the goal.
“I’m not interested in arrests; I’m not interested in revenue,” she said. “I’m just interested in public health.”
Ms. Quinn said she would look for more ways to reduce exposure to secondhand smoke but declined to provide specifics.
A city health department study published in 2009 found that 57 percent of nonsmoking adult New Yorkers had an elevated level of a nicotine byproduct in their blood indicating recent exposure to cigarette smoke. The comparable nationwide figure was 45 percent.
City health officials say that people seated within three feet of a smoker are exposed to roughly the same levels of secondhand smoke, regardless of whether they are indoors or outdoors. The ban is also intended to help reduce trash in public places.
In addition to applying to parks and beaches, the ban approved on Wednesday would extend to pedestrian malls and plazas like those in and around Times Square. One group will be exempted from the restrictions: actors lighting up a cigarette in a park or on a beach for the purposes of a theatrical production.
This website is a great first step but it is just that.
We absolutely need copy for the new website. We need product descriptions as well as copy that is SEO friendly and that will market the product.
In addition to copy there are several other simple ways that the brand new website can be improved upon. I plan to send Tom an email this weekend detailing suggestions on some ways to improve the site. He is probably already working on some of them.
I think that if us investors put our heads together we can probably brainstorm some steps to improve the site to present to management. I would love to have the help of some of the investors in this forum in providing some constructive criticism to the management team.
It is my personal opinion that SFIO has a product (the Real ecig) that is potentially worth several hundreds of millions of dollars to a big tobacco company. Additionally I believe that its side venture with CBIS has the potential to also be worth many millions. However I also believe that our management leaves a bit to be desired in aspects of the business such as sales and distribution.
We need to keep in mind that the company is a true start up that is currently is comprised of 5 employees. If there are ways that the investors can help the company improve then I would rather that the investors lend a hand than the company spend its money on consultants or new full time employees to do the work. Maybe in a year, when the profits are more substantial, the company will be able to hire its own ecommerce experts but for now lets work together to make sure that the public gets to experience SFIO's products.
Thankfully, some of the posters here have the ear of management and I have confidence that if we provide well thought out suggestions on how the website can be improved upon that some of the suggestions will be adopted by the company. Lets work together to help SFIO realize its potential.
Like I said, I plan to work on this over the weekend and I will post my comments here for feedback to see if any other investors have additional suggestions on how the website can be improved.
I think the new shopping cart website needs a better description of what Smoker's Option is and what the benefits are. I'm sure this will come with time, but I believe it should be on there now.
SFIO is about to take a big leg up
I disagree that he should stop spamming barcharts. Won't it be nice to see when he posts that barcharts calls SFIO a strong buy after it is trading well in penny land?
If you own stock, wouldn't you be foolish to keep raggin' on it. Also, do you think you can go for 1 week without posting the barcharts crap. Are you man enough to stop? Prove to the rest of us that you can do it. After thinking about you, why don't you try not posting any links. I'm talking about ones like this: "is this the website" or "is this the website" or IS THIS THE WEBSITE" Jezuz already.
BBB, he is only here to pump barcharts.com
He doesn't own any stock.
Look at his posting history. He uses the same sales pitch (paraphrased: "your company is a scam! check out my cool chart website with an algorithm that will tell you it will do tomorrow what it did yesterday") to drive traffic to his website on other forums too.
tocororo, seriously, do you own a fair amount of shares in the company?
Do the opposite of bar charts and make money!
The funniest thing about bar charts is that you were posting that SFIO was a 'strong buy' at $0.015 after we won legislation to sell our product in the US.
Then when it got to $0.0062 you had it as a strong sell.
The algorithm on that website that you spam on a daily basis needs to be tweaked so that it does more than just tell us that the stock will do what it did yesterday.
I also have a bid that is not showing on the L2.
Pauly, if you don't mind my asking how many shares are you buying that you are being stubborn over $0.0001? Just move up to $0.007 and get filled! Since you're such a nice guy I'll give you another 10 mins or so to pick off that $0.007 before I do
According to every time that you posted that you have bought shares in SFIO in the past 45 days you currently have a stake of somewhere around 15 million shares bought with an average of $0.0064.
Congrats on your huge ownership stake in this company! I hope you are in it for the long term. We could use more investors like you locking up the float. If you continue to hold you will be quite wealthy when we sell our technology to Phillip Morris one day.
Hey Kingy, how high are we going?
What is important now is that we have an ecommerce site!
As someone who works in the ecommerce industry I will make the prediction that there is a 0% chance the online shop will work flawlessly (though 12 hours in so far so good).
We don't have an in house ecommerce team and our staff specializes in product development and not ecommerce and distribution. There will be some bumps in the road but thats okay. What is important is that we are currently priced as if the company is a fraud and now every investor and every basher is able to buy real products. With real products comes a real valuation.
Buckle up!
What is important now is for the online shop to work flawlessly. Everything else now is secondary, at least for a while. Latter they can accelerate.
Very nice of the company to not syndicate the PR yet. They are providing one last chance for people who follow the company to get shares below $0.01 before the momo players and flippers come to town.
Today is a big day in SFIO history.
The ecommerce shopping cart is a total game changer.
I ordered 6 cartons yesterday. I will be giving out plenty of samples and will be soliciting feedback. I will be ordering the Real ecigs the moment they are put online.
Hopefully this order arrives by this weekend so that I can bring them to a Superbowl party on Sunday.
Very exciting!
The number one issue holding down the share price was the bashers stating:
'this company is a fraud'
'all of the evidence of the product being available in europe is photoshopped'
'blah blah blah.'
The ability to purchase online in the United States will end this argument once and for all and will prove that SFIO is the real deal!
I'm so excited that I just purchased 5 cartons of the menthol and one of the cinnamon, and I don't even smoke! I consider it a donation back to the company that is about to make me a lot of money. I will be giving away packs to my friends who smoke to get their feedback and to hopefully begin converting them into new SFIO customers.
This website is clearly not completed yet. It seems that we have stumbled upon the first draft. I am sure that it will be improved over time. However it is fully functional and I was able to place my order and sign up for the SFIO newsletter. When the nicotine ecigs hit the site later this month there will be no looking back.
Congrats to everyone who held their shares.
Smoke em if you got em!
The 'sale' sign on the SFIO website is new.
I was last on the website two days ago. The link does not go to a shopping cart for me yet
I believe that Smokers Option is the non nicotine ecig where 'Real' is the brand for the nicotine ecig
Its essentially New Years Eve in China...
which is like Christmas eve in the US.
Jacky is probably traveling right now to see his family or his family is traveling to see him. Either way, the country is shut down for the next three weeks and it is completely understandable if he doesn't provide a response to these non allegations.
I hope that you sell your shares. There is a preponderance of evidence pointing to this being a real company making really serious cash and growing rapidly. You are lucky to have found a message board where diligent and intelligent people have made copious amounts of research available to you. If all it takes is this weak hit piece to shake you from your shares then you deserve to be shaken out. The stock will perform better when its shares are owned by strong hands and not the weak.
I haven't sold yet, but I'm giving Jacky to the end of business Wednesday to respond then I'll be liquidating my position if a highly tactical, well thought out response is not PRed. This is bad for the stock, irrespective of the fact that this hit piece is a weak ass piece of $hit that completely lacks substance. And they left it open for a part 2, like they really have something else. They did that just for maximum fear. Nevertheless, Jacky better get off his ass and hit back...hard. I'm talking opening up their books, coordinating PRs from their auditors and local officials, etc.
The gloves are off now and he better show us what he's got if he doesn't want to see this stock in the single digits again.
I'll be emailing him momentarily. I suggest everyone else do the same.
"first thing we do, let's kill allthe lawyers"
Henry VI, Shakespeare
Its not Citron's fault you lost money. Its your fault. In the long run this is simply a buying opportunity.
Today I got margin called for a sizable loss however that is MY fault for pigging out on the first pop off $18.60 and not Citron's fault for being scumbags. I am glad that this happened as it reinforced to me the importance of staying well underinvested so that I have enough cash to deploy when hit pieces come out on my favorite names.
Thankfully, as the market was closing I sold 75% of my trading positions to clear some room for CCME and bought back in after hours $0.60 lower than where I got margin called. I'm not sure if that will make me ineligible for your lawsuit since by the time your lawsuit gets to court CCME will be in the $30s and I will no longer have standing to sue rather I will owe Citron a nice fruit basket (with plenty of lemons.)
Even though this activity is fraudulent these hit pieces have made me money in the past as I have bought the dips in TSTC, CVVT, CHBT, and now CCME. If you are investing in the RTO space you need to do your due diligence and come to your own convictions so that when these hit pieces come out you know when to short the frauds and you know when to buy the dips.
Law suits are for the weak. Take some personal responsibility for your actions. If you sold for a loss today it is because you were over levered (your fault!) or because you foolishly thought that Citron's report had merit (your fault!) If you thought Citron's report has merit you probably don't belong analyzing individual stocks. Buy an index fund or etf.
The only people worse than the Citrons of the world are the ambulance chasing lawyers who go after them. The strong investors will take advantage of the situation the weak investors will cry about it to the SEC.
-------------------
on a tangential note, this article really angers me:
http://www.thestreet.com/story/10989238/1/the-securities-arbitration-law-firm-of-klayman-toskes-files-750000-claim-against-merrill-lynch-on-behalf-of-a-former-ups-employee-who-held-a-concentrated-position-in-ups-stock-on-margin--bac.html
Did EGPT get halted?
I shorted some at 8:26 am but now I'm not showing a bid or ask with TD and don't see any shares traded other than the 12,500 that went across premarket. Interactive brokers is showing a spread of 16.21/16.4 but no volume other than the 12,500 that traded premarket
EDIT: Yes, it was halted as reported by CNBC:
http://classic.cnbc.com/id/41350982
Yoda,
I am not a subscriber but would like to ask you something privately. If you could send an email to sfioinvestor@yahoo.com so that I can have your email address I would really appreciate it.
Thanks!
There may be a trademark issue over 'Similar' some time in the future because that product is not made by SFIO and its inferior technology is 'similar' to sucking on a straw of cold foul tasting nicotine air. It is not the revolutionary product that is going to make SFIO's shareholders wealthy.
I have not looked into it but according to the 2/11/10 press release it looks like SFIO only has the trademark to the Similar name in South Africa (see bold below) while this inferior Similar product is being offered in Europe.
I don't know if we even own the Similar trademark in South Africa but if we do it would likely make sense to try to sell it to the other company which is already marketing its product in Europe.
Correct me if I'm wrong, but this tells me it is an SFIO product:
Quote:
The following Pr can be found here;
http://www.smokefree-innotec.com/2010/02
Posted by Smokefree Innotec on Feb 11th, 2010 in Smokefree Press Releases | 0 comments NASHVILLE, TN –2/11/10 — Smokefree Innotec, Inc. (PINKSHEETS: SFIO) (http://www.sfio.us or http://www.smokefree-innotec.com) announced today that current reports in from our marketing associates state that they are in the final stages to launch “Similar”, a brand name specific for the South African market. SFIO products will be introduced into that market as planned during March.
That Similar ecig is inferior to SFIO's zig.
The Similar product that you are posting is not a SFIO product.
SFIO's ecig is the world's only ecig with a vapor free technology which makes it safer than the other ecigs on the market today. The SFIO product is comprised of a reusable heat source (with a rechargeable battery) with disposable filters containing the nicotine and flavor. On the other hand, the Similar product being posted is completely disposable and can not be recharged.
The SFIO product has a heat source that is activated by the difference in pressure caused by sucking on the cigarette. The Similar product does not have an internal heat source giving the user the experience of sucking on cold air.
Products like the Similar one have been compared to sucking on a pen whereas SFIO's product is more like smoking on an actual cigarette.
The reviews in the dailymail article point to this being an inferior product:
However, smoker Andrea Russell, 38, was not impressed by the substitutes saying it didn't give her the same feeling as smoking a real cigarette, although she agreed it could be comforting to hold the smokeless cigarette in her hands during a flight.
Iwana Falkiewecz, 28, agreed, saying she couldn't feel the usual rush from the substitute but it could be good enough if you were desperate for nicotine.
'It tastes quite weird but I guess it could be more pleasurable than other cigarettes as you are not actually inhaling all that smoke.'
I love these hit pieces!
Just sold half of the TSTC I bought yesterday up 10%. Used the money to buy CHBT at $14 after a hit piece was launched on that stock.
You can make serious money buying the dip every time a hit piece comes out on one of these Chinese stocks.
These short sellers should all be investigated by the SEC but I am glad that the SEC has its head in the sand because this is the easiest money I have ever made in the market.
Just buy the pain; easy game.
These hit pieces provide a fantastic buying opportunity.
I added heavy at 7.65. I'll flip half of it back to one of the weaker hands over $8 in the near future. Easy game.
Another hit piece from the shorts:
http://seekingalpha.com/instablog/790526-theforensicfactor/132677-telestone-technologies-part-ii-the-great-wall-of-deceit
So what's the story with this massive decline since yesterday's open...shorts?
Agreed.
If we get financials with 500k in revenue and a small net loss I think SFIO is a screaming buy anywhere below $0.05.
I don't care about the contents of the financial statement nearly as much as I care about SFIO being a reputable company that files its financials.
We are not investing in this company for what they did in 2010 or even what they will do in 2011. We are investing in this company because it has a great technology that will be the future of the multibillion dollar tobacco market.
The time when the shareholders will make their $1.00+ share is when SFIOs ecig technology is acquired by a big tobacco company. Evidence of a developing relationship between SFIO and a big tobacco company should be greeted with extreme enthusiasm.
Additionally, we will all get paid when SFIO sells their marijuana vaporizer that is in development with CBIS. Until that time, all I need is some evidence that SFIO is a going concern to be very happy with my investment.
The current management team leaves a lot to be desired and they are not the people who are going to get the product in every gas station and tobacco shop in the world. They don't have the cash or the sales force to accomplish that. That is why they will need to sell the company at some point.
However I don't care that Tom is a dreamer or that our sales force is having trouble getting the product to market as long as they get us to the end game.
As long as the product exists and the company can stay solvent long enough to be taken over then shareholders will do very well for themselves. Revenues of 500k and proof of a small loss will be enough to prove that they do have a product in the European market and a small loss will be enough to show that the company will not go bk or dilute before it gets to the finish line.
I am excitedly awaiting the web site but understand that development and testing of an ecommerce website that must be PCI compliant should take 6 months to create. SFIO's current website is terrible and they don't have an ecommerce team on staff so the whole process of website development will be painfully slow. Also, we should keep in mind that ecommerce websites are virtually never completed on time. The stock is held back by the fact that SFIO tends to overpromise and underdeliver. However once they do actually deliver the buyers at these prices will be extremely happy that they got this huge dip to buy. This message board works on a 24 hour news cycle that ignores the fact that it takes time to develop a successful business
At this point the company is trading at a valuation befitting of a fraud. This low valuation is primarily because the MMs are working with the bashers to keep the stock price down and scare weak investors out of their shares. If this company shows us that they are legitimate by showing any revenue and only a small loss then anyone buying at this level will see tremendous returns on their investment.
Disclosure: I am long millions of shares of SFIO
NGAS shareholders will get more than $0.55 at current prices
Keyscruiser,
You are misinterpreting the terms that you quoted below. The deal is that for every share of NGAS you own you get 0.0846 shares of MHR.
It is the passage that you bolded and underlined that states that no matter what happens to the share price of MHR before the deal closes the exchange ratio will remain that NGAS owners get 0.0846 shares of MHR for each NGAS share. Regardless, unless you are looking for this as a way to get a 10% discount on MHR shares there are probably better merger arbitrage plays out there than this one unless M/A is your thing.
It is interesting to note that in July 2009 MHR had a $0.65 stock and a ~40 mln market cap (+/- not sure of actual share count at that time). At the same time NGAS had a $2.20 stock and a 80 mln market cap. Now MHR is at $7.20 is worth 500 mln and gets to absorb NGAS's assets for pennies on the dollar.
Two stocks in the same sector one up 1,000% the other down 75%; it would make for a nice case study on failed management. I can't wait to see what kind of golden parachutes these NGAS destroyers of value take home in this deal.
Under the terms of the definitive agreement (the "Arrangement Agreement"), each common share of the Company will be transferred to Magnum Hunter for the right to receive 0.0846 of a share of Magnum Hunter common stock. The exchange ratio for the transaction, which will not be adjusted for subsequent changes in market prices...
The Wunderlich $1.00 target should not have been given any weight by investors.
Look at Wunderlisch's track record on NGAS; if you shorted each time Wunderlisch commented on NGAS you would have been in the green from start to finish on pretty much every trade:
10/14/2009 (NGAS at $2.40)
Wunderlich Initaited coverage with a $2.50 price target and hold rating. NGAS never traded higher a single day again.
3/17/2010 (NGAS at $1.71)
Wunderlich Upgraded NGAS with a $3.00 price target and a buy rating. NGAS traded higher three more days in its history.
5/12/2010 (NGAS at $1.40)
Wunderlich acts as comanager for NGAS secondary offering. The stock never trades higher again.
6/2010
Paul Farretti, managing director of Wunderlich, is added to NGAS's board.
11/10/2010 (NGAS at $0.60)
Wunderlich Maintains NGAS at buy, with a $1.00 price target.
NGAS never traded higher again
These law firms are ambulance chasers and the acquisition is their wreck.
This was a long overdue forced sale.
NGAS is selling the company for about 1/8 of its book value however its the best option management has; it has been the best option that management has had available to them for several years.
They should not have allowed the company with so many significant assets to run out of its liquidity. It should not have gotten to the point where by missing a deadline they went into default on their bonds.
By failing to close this deal by the end of the last quarter they were forced to give 7% of the company away to the bondholders in the form of 3.25 million $0.37 warrants.
Magnum Hunter (MHR) was up 7.3% today on the news of the steal that it was getting for NGAS. MHR is wisely doing this as an all stock deal since their stock is up 900% since mid 2009. At $0.0846 per share of MHR, NGAS shareholders are getting at $.609 as of todays close.
I think NGAS was over a barrel.. Might have been yet more bleak alternatives.
I just bought one share each in three accounts. I will post results if and when the company increases my stake by 20,000%
well i bought 200 shares in 5 different accounts thats my lottery ticket for 2011
Why is everyone talking about 101 presplit shares? Shouldn't you only have to buy one share to participate in the roundup?
If you buy one share it would become .005 shares after the 1:200 reverse split.
0.005 shares is a fractional share therefore it would get rounded up to 100 post split shares as per to the terms copied below.
The PRE 14C states: "As a result of the reverse split, each 200 shares of Common Stock (the “Old Shares”) will become and be converted into one share of Common Stock (the “New Shares”), with stockholders who would receive a fractional share to receive such additional fractional share as will result in the holder having a whole number of round lot 100shares.
Chart signals take a back seat to tomorrows announcement
NGAS should have an announcement coming tomorrow about a qualifying transaction to assist in the renegotiation of their bonds for which they are currently in covenant default. Expect a big move one way or the other depending on how this issue is resolved.
According to their most recent balance sheet the company has total shareholders equity of $118.5 million against a market cap of $19.5 million.
With the stock trading at 0.11 times book value a meaningful sale of assets or merger or takeover agreement should bode well for shareholders.
More dilution (see S 3/A filed December 8th with $150 mln in authorized share sales) and/or a reverse split and the trend will continue down.
See below from the 8K filed November 19th for more details.
http://ir.ngas.com/secfiling.cfm?filingID=950123-10-107469
Item 1.01 Entry into a Material Definitive Agreement
On November 19, 2010, we entered into a Limited Waiver and Fifth Amendment (a mendment ) to our Amended and Restated Credit Agreement with KeyBank National Association, as administrative agent for the lenders ( credit agreement ). The credit agreement provides for revolving term loans with a scheduled maturity in September 2011, which resulted in the classification of our revolving debt as a current liability at September 30, 2010. As previously reported, we were not in compliance with the leverage coverage covenant under the credit agreement as of that date, and were in negotiations with our lenders to address the covenant noncompliance. We also reported our prior engagement of a financial advisor to assist us pursue strategic alternatives that would enable us to retire or replace the credit facility ( qualifying transaction ) and could include the sale of assets, merger or other type of strategic transaction.
The amendment to our credit agreement provides for the waiver of our noncompliance with the leverage ratio as of September 30, 2010 on various conditions. The material terms and conditions of the amendment are:
• a reduction in the lenders’ total commitments under the facility to our current outstanding credit facility debt of $35.8 million, which will be due on March 31, 2011;
• the reduction of credit facility debt by monthly installments of $588,000 under a promissory note we received as part of the consideration for our sale of Appalachian gas gathering assets in August 2009;
• the release of any claims against the lenders;
• the payment of certain fees to the lenders and an increase in the interest rate on credit facility debt from 2.25% to 4.25% above the administrative agent’s prime rate;
• an increase in our reporting requirements to the lenders;
• the mortgage of certain additional properties; and
• our entry into a definitive agreement for a qualifying transaction by December 15, 2010.
We are currently in compliance with our financial and other covenants under the amended credit agreement. However, if we are unable to meet any of the conditions under the amendment or obtain further forbearance from the lenders for any noncompliance, our obligations under the credit facility could be accelerated. Related risks associated with any future default under our credit agreement are discussed under the caption “Risk Factors” in our quarterly report on Form10-Q for the quarter ended September 30, 2010 ( Form 10-Q ), which is incorporated in this report by reference.
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
As reported in our Form 10-Q filed on November 9, 2010, we have approximately $21.5 million in outstanding amortizing convertible notes due May 1, 2012 ( 2010 notes ) that contain a cross default provision entitling the holders to call their 2010 notes for redemption at a default premium in the absence of a timely waiver of our covenant default under our credit facility. Although the amendment to our credit agreement described in Item 1.01 of this report waived the cross default under the 2010 notes, it did not cure the cross default. On November 15, 2010, we received a default notice from the holder of $15.3 million principal amount of the 2010 notes. Under the terms of the notes, holders have the right to require us to redeem their notes in cash, within five business days of a default notice at 125% of the entire principal amount, with interest at a default rate of 12%. At any time after providing a default notice, a holder has the right to withdraw the redemption call and instead require the conversion price to be reset from $2.18 per share to the lowest closing bid price of our common stock during the period from the date of the default notice to the redemption withdrawal date.
We are currently in negotiations for a waiver or forbearance from the holder of the 2010 note that was called for redemption. Under the terms of the 2010 notes, any restructuring arrangements with that holder will be offered to the other holders. We do not have sufficient cash to make the payments amounting to approximately $14.5 million on the 2010 note called for redemption and can make no assurances that our negotiations for restructuring our convertible debt will be successful.
SFIO to launch sales and marketing in US on Tuesday
Haven't seen this posted yet:
"It is time to smoke without smoke smokeless Innotec Innotec Inc. (SFIO.PK), a global distributor of e-cigarettes, is ready to launch marketing and sale of nicotine products in the United States on Tuesday after the Court of Appeal ruling that the FDA has no authority to regulate cigarettes as drugs or electronic devices.
Electronic Cigarettes Health Risks"
http://www.electroniccigarettecompany.org/electronic-cigarettes-health-risks-2/