Amarantus Bioscience Holdings Inc (AMBS)

[GS1]

AMBS pipeline is much better than ONCS but their debt situation is cause for concern. Currently listed debt is about 7 mil. Add to that 3 mil they will be paying for ESS acquisition (600K x 3) i.e 1.8 mil plus 1 mil for closing transaction. i.e about 3mil that brings total debt to 10 mil. What is not reported in the liabilities is they have to pay 8 mil to Diogenix which is an all stock transaction. Since these are restricted shares they can be converted after 6 months. i.e in July 10. (Transaction closed in Jan 9). So this brings total convertible debt to 18 mil. Now series G financing of 5 mil. That adds total debt to 23 mil. Most of debt will be converted in 3 months time except series G which is due Dec'15. Now Gerald needs to do something about it..