Nope, I don't think I'm way off...especially when you still say ... "This is but a small step on the road to recovery" Go back and re read my earlier post where I compiled the math for you and broke it down.
Of particular interest in the latest filings I was interested in reading
In addition, the Company and certain of its investors agreed to a leak-out agreement dated January 27, 2016 pursuant to which the investors agreed to certain trading restrictions with respect to its holdings of preferred stock and convertible notes of the Company until March 12, 2016.
I wonder what is significant about March 12th? Any thoughts?
Earlier post attached below...
JJAAMMAANN Tuesday, 01/26/16 03:21:25 PM Re: Slmiley post# 121791 Post # of 121907
The Series H converts are definitely hurting, but sooner or later, the conversions have to run out and MAGNA will be repaid. Yes, they can be death spirals, but if you add up the shares so far, it is nearly 2 Million...1,996,356 from the supplements you have listed thus far. From September through January 8th, the PPS averaged nearly $0.50, and when the 1,298,612 were converted back at the end of September, the price was about $1.25 considering that they were all sold, utilizing an average price would be: 1,996,356 Shares x $.5 PPS = $998,178.00
If you consider the September allotment alone selling for $1.25 per share, it would be:
1,298,612 Shares x $1.25 PPS = $1,623,265.00
then use the remaining shares at average... 697,774 Shares x $0.50 PPS = $348,872
41,623,265.00 + $348,872 = $1,972,137
Worst case scenario, they have only recouped $1 million, best case scenario they have recouped $2 million...either way, there is a light at the end of the tunnel!
Maybe there was something to that January 8th date given by GC?
Maybe the Toxics are depleted...or getting closer anyway... Hope GC has something to present soon to get this thing rolling again!
Quote: SAN FRANCISCO and GENEVA, Oct. 1, 2015 (GLOBE NEWSWIRE) -- Amarantus Bioscience Holdings, Inc. (OTCQX:AMBS), a biotechnology company developing therapeutic and diagnostic product candidates for orphan indications and neurology, announced that it has completed the issuance of $2.75 million of newly designated Series H convertible preferred stock in a registered direct offering and $2.75 million in secured debt in a private placement for a total of $5.5 million to a single institutional investor. Both the Series H and the newly issued secured convertible debt are convertible into Amarantus common stock at $2.50 per share, subject to adjustment based on market conditions. In addition, $2.85 million in secured debt previously issued to Dominion Capital in connection with the acquisition of Cutanogen Corporation has been exchanged for the secured notes issued in connection with the secured debt financing agreement outlined above. In connection with this series of transactions, the Company issued approximately 3.8 million warrants to the Series H holders and secured debt holders exercisable for five (5) years with a fixed strike price of $2.00.
At closing, the Company simultaneously repurchased all of the remaining 1,260 outstanding Series G convertible shares, having a face value of $6,300,000, and 212,087 common shares held by Discover Growth Fund at closing, for a total of $4.75 million in cash. With the completion of this series of transactions, Discover Growth Fund no longer holds any securities of the Company and is precluded from trading in the Company's securities for a period of two (2) years.
