Sack Lunch Productions Inc (SAKL)

[Blizzld]

right idea but wrong math

The convertible shares that are convertible into 5.00 worth of stock would be roughly 40 shares per share at current prices of 12 cents (take conversion price divide by current stock price).

That means 1 million preferreds converible into 5.00 of stock = 40,000,000 possible common shares.

About 6 million just came out.

Now this would not bother me in a one time deal or if there were 10 million or 15 million shares to spring out of nowhere. But just the C shares alone can sprout quite a few common shares, like 60 million or more etc.

the A shares seem to be restricted but the C ones can just be registered and sold by the company.

I am not sure about this guys past but hope he is by all that stuff now. IF he was smart he would restrict or get rid of all that convertible stock and let this thing play out over 2 years of growth. people would make more money as would insiders.

He has a potential gold mine here. with proper financial clean up this could be over a buck a share. With this set up who knows.