I doubt very much Ashler's completely done selling. Their filing on April 15th just shows they converted an amount of the note to equal 9.99% of the then outstanding shares which is the most they can convert at one time. Today's filling just shows they sold ( those ) shares. Do you really think their whole note just happened to convert into a number of shares that exactly equalled 9.99% of the OS?
amount of $22,500 (the "Asher Note"). The Note bears interest at the rate of 8% per annum. All interest and principal must be repaid on December 9, 2014. The Note is convertible into common stock, at Asher’s option, at a 45% discount to the average of the three lowest closing bid prices of the Company’s common stock during the 10 trading day period prior to conversion.
The Asher Note is subject to prepayment penalties up to a 140% multiple of the principal, interest and other amounts owing, as defined. Asher has agreed to restrict its ability to convert the Note and receive shares of common stock such that the number of shares of common stock held by them in the aggregate and their affiliates after such conversion or exercise does not exceed 9.99% of the then issued and outstanding shares of common stock. The total net proceeds the Company received from this Offering was $22,500, less financing costs of $1,500.
