Optec International Inc (OPTI)

[Rookmin]

Reading is hard.

"With respect to the current status of the convertible notes within the Company, the original principal amounts of the notes to the Company, earlier this year, was approximately $1.75M. As of today, the principal balances remaining are approximately $890K. Not all remaining notes are due and payable or eligible for conversion at this time. The largest noteholder was fully converted earlier this week and the Company has $0 remaining with this noteholder. Whilst the Company was able to curtail the conversions of some of the smaller noteholders earlier this month, several smaller noteholders were able to complete conversions this week. The Company is in discussions with the majority of the remaining holders to settle the remaining balances from future revenues and private equity sources."