What I have:
Common Stock underlying conversion of convertible notes 27,305,556 $ 0.40 $ 10,922,222 $ 1,286
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Common Stock underlying warrants held by certain warrantholders 12,640,405 $ 0.40 $ 5,056,162 $ 595
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Common Stock 213,132 $ 0.40 $ 85,253 $ 10
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TOTAL: 40,159,093 $ 0.40 $
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This looks new and looks like they will have to raise more money and these convertables are horribe way to do it...But all these numbers could be higher depending on PPS...GLTY
In 2005, the Company issued $3,600,000 of 10% convertible debentures maturing in 2008 generating net proceeds of $3,350,000 and issued and sold in private sales 5,000,000 shares of common stock raising $1,222,000. In addition, 8,815,000 shares of common stock were issued upon the exercise of warrants and stock options, raising $1,317,000. In conjunction with the issuance of the convertible debentures, in 2005 the Company issued four-year warrants for the purchase of up to 9,611,112 shares of the Company’s common stock, at an average exercise price of $0.18 per share, which are exercisable at any time. These capital infusions were reduced by the repayment of $855,000 in long-term debt and the incurrence of $419,000 in loan origination costs.
In 2004, the Company issued $1,180,000 of 10% convertible debentures maturing in 2007 and $1,000,000 of 15% convertible debentures maturing in 2005. In a private sale, the Company issued and sold 13,000,000 shares of common stock raising $2,440,000. In addition, 2,732,000 shares of common stock were issued upon the exercise of warrants and stock options, raising $464,000. These capital infusions were reduced by the repayment of $308,000 in long-term debt.
