Labor Smart Inc (LTNC)

[GrowthStocks99]

sobe4life, You Are WRONG!

There is no floor of 15 cents.

From The 8K:

The Debentures bear interest at the rate of 11% per year (half of which is guaranteed, and in addition to the original issue discount) and are convertible into common stock at a conversion price of $0.15 per share (subject to adjustment in the event of stock splits, stock dividends, and similar transactions, and in the event of subsequent sales of common stock at a lower purchase price (subject to certain exceptions), and provided that, in the event the Company fails to make amortization payments on February 18, 2015 and March 1, 2015, each for 50% of the original principal amount of the Debentures, the conversion price will be adjusted to a variable price equal to the lower of $0.15 or 60% of the lowest volume weighted average price of the common stock for the 20 prior trading days). The Debentures mature one year from the date of issuance. The Company may make payments on the Debentures in cash (in which event the Company will pay a 30% premium) or, subject to certain conditions, in shares of common stock valued at 60% of the lowest volume weighted average price of the common stock for the 20 prior trading days.

sobe4life wrote:

Redwood hasn't sold any shares of stock in LTNC. So what is the point? Trying to scare us???

Their note with LTNC has a FLOOR of 15 cents!

You think they are going to convert and LOSE money? DUH!!!

Nice try! DUH!