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Post# of 176901
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Re: boatlife post# 29501

Monday, 05/11/2015 6:52:07 PM

Monday, May 11, 2015 6:52:07 PM

Post# of 176901
The whole issue is too vague to really offer a definitive evaluation. We'll use just one example. When I see the wording on the 10K that states -" company issued 27,629,032 shares of unrestricted stock in exchange for $8,565 convertible debt in 2014" - that leads me to believe that debt was paid in full. Well, if that assumption is right - and it happened 34 times - they should have issued 145 million shares to cover the total of $145K debt enumerated in the filing. They issued 907 million; an excess of 762 million shares. If the debt is paid in full then the only option the debt holder has is to return the shares, and that means they buy them on the open market. They supposedly had 10 days. I see no evidence of anyone trying to cover 762 million shares. That would be a monumental 'short squeeze' of a sort. Hence my 'fishy' take on the 8K/A. I'm all ears to anyone who can analyze this any better. The elephant in the room is the lack of details. Suppose all else is conjecture without more stinkin details.
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