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Thursday, May 04, 2006 6:16:44 PM
1 Million purchased. Convert them into debentures.
a) receive 100,000 shares priced @.001 value is 100 bucks. and a promisory note for 900 bucks ( would say due on the note). I guess this note would be a legal binding letter.
b) So, a 100$ investment today could yeild 1000 bucks in 5 years. 900 bucks debenture note can be converted into 90,000 shares which means, the value of the share is priced @ .01 in five years.
This makes a good sense, since the float is getting drastically reduced by 90%. So, here you are going to take profits. Some of us got in @ .0004 which means a million costed us 400$. So, if we convert to debenture notes, I would still be making profit. Either the MMs are stupid and will keep it low so that we can take advantage of this for some more time or they will run. I think after june 15th the profit returns might be more since gold price will start to rise along with Oil.
Another nice thing is we can convert back into 90000 shares priced @.01 if the price is higher than 1 cent. Its like a warrant. So, if price never goes back to more than a cent, we hold it for five years to get 900 bucks or convert when the pps rises above 1 cent. Then imagine a rally like AURC ( high @40cents or may be DROOY @1.52 on Nasdaq). So, its a highly win situation if you take advantage of. Also, if company does profits, debenture holders will be entitled to profits first rather than regular share holders. I have some few millions here and billions of preferred. Lets see how it pans out. This is my opinion only. Others can comment.
GLTA, bliss.
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