1812 Brewing Company Inc (KEGS)

[ironhammer]

just to highlight the paragraph that is of concern a few words stand out it appears and tentatively
Mr. Scozzafava stated, "Similar to the share retirement, it is in this context, and it is with this intent and purpose that the Company is seeking a mutually beneficial resolution to extinguish the $13.6 million of convertible debentures. Management had previously believed it had essentially brokered a deal between the debt holders and a third party, which was approved by a federal court.However, it appears unlikely that this transaction will be consummated. Therefore, I have had subsequent discussions with each of the debt holders, and they have tentatively agreed to continue to waive any accruing interest as well as to abstain from any conversions until the market value of the Company exceeds $100 million. It should be noted that neither debt holder has converted into common stock in over ten years, nor have they indicated an immediate desire to do so regardless of price."