Wednesday, May 28, 2014 3:27:16 PM
entitled to that number of shares of Common Stock (the "Final Amount") with an aggregate value equal to (a) the Claim Amount plus a 7% agent fee and reasonable attorney fees and expenses
to even it out let's say 2.5 million.
divided by 80% of the following: the closing price of the Common Stock on the date of entry of the Order ( i think was .013 but....
not to exceed the arithmetic average of the individual volume weighted average prices of any five trading days during the Calculation Period (I am saying .0025 so 80% is .00224).
So we take 2.5 million / .00224 = 1,116,071,428
So that is what IR is owed but they have already been given 435 million so what is left is 681,000,000.
So now we all know. What will this do the pps? Not sure. If they sale and bring the pps down, they will be hurting to make their money unless they have already sold their 435,000,000.
Of course I could be totally wrong and I have no idea what would cause this statement to happen:
At the end of the Calculation Period, if the sum of the Initial Issuance and any True-Up Shares does not equal the Final Amount, adjustments shall be made to the shares of Common Stock issued pursuant to the Stipulation and either additional shares shall be issued to Ironridge or Ironridge shall return shares to the Company for cancellation.
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