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Re: namtae post# 18244

Tuesday, 08/21/2018 1:17:25 AM

Tuesday, August 21, 2018 1:17:25 AM

Post# of 21373
LOL, namtae…

horrific capital structure of close to one billion shares outstanding.



Where is that number coming from?

According to the latest 10-Q filed on 8/9/2018 the O/S remains @ 104,477,936.

For months I have been basing my market cap estimations and price targets on the assumption that the preferreds were being converted into common shares and added to the float.

It appears from the latest 10-Q, that note holders have not converted these shares into commons leaving the O/S unchanged.

Do I have that wrong?

Keep in mind that outstanding preferred shares and warrants do not count toward the O/S or float until they are actually converted.

Not here, not on any OTC and not on any NASDAQ or NYSE company.

Also, the filings show that note holders agreed to renegotiate the terms of the notes that seem to be favorable to current ONCX shareholders.

"...The convertible notes bear interest at a rate of 10% per annum, with accrued interest payable commencing April 1, 2019, then on the first day of each calendar month thereafter until maturity..."

If note holders are electing to not convert preferred shares and warrants into common shares as of yet, while also agreeing to accrued interest payable commencing April 1, 2019, what real risk of dilution are ONCX shareholders really facing short/medium term?

We have seen examples of public bio/pharmas receiving large grants that could easily overcome a relatively small $5.5M note.

It looks to me like ONCX is not willing to permanently flush $90,000,000+ in market valuation down the dilution toilet for a $5.5M note.

ONCX is near/at an all time PPS low with very little downside remaining at this point, while looking at potential gains of anywhere to 1000%-5000+%.

ONCX is looking good based on currently available public information.

IMO and FWIW.

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