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Monday, March 02, 2015 12:00:02 PM
In addition, the second largest part of the newly authorized shares will be used to increase the amount of common stock which will be reserved for issuance upon conversion of outstanding convertible debt of the Company. The transaction documents generally require the Company to reserve between 3 to 5 times the number of shares needed for full conversion of the debt at any given point in time. Due to recent decreases in the market price of the Company's common stock the number of shares of common stock which must be reserved pursuant to such contractual arrangements must be increased. Upon full satisfaction of the debt (by payment or conversion into common stock) the reserves shall be cancelled.
STOP & VISIT MY BOARD AT:2011 OTC/PENNY BREAKOUT ALERTS
http://investorshub.advfn.com/boards/board.aspx?board_id=19627
My posts are NOT a buy/sell recommendation, Do your Own DD, before you buy any stock - I reserve the right to buy/sell any stock
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