First Liberty Power (fka FLPC)

[jjphillips]

Hi marexx,

The problem they have run into, it seems, is that they do not have enough shares authorized to fulfill these notes.

1,500,000,000 A/S
1,244,459,836 O/S

That leaves 255,540,164 shares remaining. At 0.0005 cents and discount of 40%, the most they can fulfill with these shares is:

255,540,164 x 0.0005 x 0.6 = $76,662

Hence the emergency meeting (still not scheduled!) to try and increase the A/S to 5B.