Auscrete Corporation (ASCK)

[tchalla]

yes, it's hefty because they have a $2 mil line of credit, all of which will be needed to do get the business to the point of production. i tried to explain this to the board a number of times now. just pulled out the details from the november q which prove that everything i have been saying is 100% correct. asck is not ready for any major moves. it's just not. the lender is going to be converting for a long while. they have to pay them back as they borrow. it's unavoidable. no restrictions besides the 4.99% of os at any one time. right now, that means they can dump 50 mil shares at a time. they can dump as many shares as the market can bare each day and week, as long as they only hold no more than 4.99% at any one time. and, the discount price is 20%. that is the only kind thing that is better than the previous convertible debt terms from the $458k they have on the books where the discount is steeper. but, with the amount of debt they are borrowing at a time to convert, it's going to be ongoing for months and months. they have already used $100k to purchase to land, so that has to be paid back, and they hadn't even finished paying the $458k balance yet. this is why i say the stock is going back to .0003, and why i think the ceo will be forced to do one or two more splits in the short and midterm to keep the stock healthy. don't see how they will avoid it.