Baristas Coffee Company, Inc. (BCCI)

[davidsson10]

"According to the latest 10-Q, at the end of Q1, there was about $615 thousand worth of convertible debt. It can be turned into stock at either fixed rates or a 50% discount to the market price and some people have already converted their notes. Last year, BCCI issued 9.3 million shares at $0.02 per share in order to retire some debt and between January and May, a further 2 million were issued for the same reason at a rate of just $0.01 a pop.

"Currently, the O/S count is sitting precariously close to the authorized cap which means that further conversion is largely dependent on the management team's willingness to cancel some of their common stock holdings."