just read the Q and the prospectus...
last Q shows something like 345 million plus shares OS
then read the potential conversion factors in the prospectus:
The applicable conversion price of our debentures issued to certain security holders is variable and does not have a lower-limit, therefore the dilutive effect to our existing security holders is theoretically limitless.
Conversely, because the variable conversion price of these debentures has an upper limit, an increase in the trading price of a share of our common stock will result in a limited benefit to existing security holders with respect to
the conversion of these debentures. The following table sets forth the number of shares issuable upon conversion of the principal portion of the debentures issued to certain security holders and outstanding as of August 18, 2003, based upon the indicated hypothetical trading prices:
2
Approximate
Number of Percentage of
Hypothetical Shares Company's
Trading Price Conversion Price (1) Issuable (2) Common Stock (3)
------------- --------------------- ------------ -----------------
$.008 $.004 250,898,000 35%
$.006 $.003 334,530,000 42%
$.004 $.002 501,795,000 52%
$.002 $.001 1,003,590,000 68%
http://www.sec.gov/Archives/edgar/data/790273/000079027303000051/prosp803supp.txt
_______________
i would rate this one DANGER
Lazarus
