Guided Therapeutics Inc (GTHP)

[carbonfiltered]

Oh and of course I can explain the discrepancy:

Lynne did convert, She filed the 13 D not Gene. I highly doubt an anesthesiologist with $300,000 in this company is going to commit securities fraud. When I file a 13G I base my percentage of ownership off of the last reported number to the SEC. So long as I file it in good faith with what I believe to be the most accurate numbers I will not be held liable. The moment I file it shares can be in the process of being issued to the transfer agent or diluted making my filing inaccurate. GTHP clearly approached Lynn and asked her to convert, it’s obvious they presented her with a game plan which included the line of credit from GHS that was established two months prior to her converting on March 1. On June 1 the OS is 211 million and there is a discrepancy of 19 million shares approximately based on her filing not the company’s. They could easily still be in the process of issuing the shares to her.

Quoted from her filing:

“Includes (i) 39,705,882 shares of Common Stock issuable upon conversion of 675 shares of Series C1 Preferred Stock, (ii) 60 shares of Common Stock issuable upon exercise of a Series C Warrant, (iii) 1 share of Common Stock issuable upon exercise of a Series B Tranche A Warrant and (iv) 912 shares of Common Stock issuable upon exercise of a Series B Tranche B Warrant.”

Notice how it says issuable UPON conversion of 675 shares of series C1 preferred stock- Maybe only 300 shares of C1 preferred stock have converted so far. It works exactly the same way as a convertible note, when the note comes due, the transfer agent does not issue all the shares At once to the note holder, they can only transfer to the note holder 9.99% of the current OS at any given time.