Craig, when does company make monthly payment with stock or cash if these payments are still being negotiated?
At one time Co was supposed to pay by last trading day of month... then I was thinking with stock it was 11th trading day of month, with decision made at least ten trading days prior.. but I can't seem to get my mind around this and have not gotten any clearer picture from company.
Have you had a chance to talk to Ted Jenkins again?
I spoke with him and he was willing to take the time to listen to my concerns and he said he passed what I shared on to the board.
The timing is what i would like to know... last month stock got hit about this time in the day on the 1st of June... about when decision would be known to convertible note holders, if payment made on 11th trading day.. decision would be delayed a day this month because of 4th of July, so either today or on the 5th decision needs to be made.. but not sure.. does co pay with stock by 11th trading day of July or with cash by last trading day?
Inquiring minds would like to know.
This is important since 80 percent of lowest five day average for stock would mean company making payment based on stock price of about 65/100ths of a cent.. on what appears to be negotiated payment of about 400,000 for principal and interest with what appears some extra stock thrown in to get to this dollar amount... any ideas?
AI
