Capstone Companies Inc (CAPC)

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In fact, to break even on his debt would be a share price would have to be converted at $4+.

Check your math. It's wrong. I calculate 7.33 cents to 'break even' on what's owed.

George Wolf was owed $336,875. He converted that to 68,939 Series B-1 shares, which convert to 4,595,473 common shares.

$336,875 / 4,595,473 ~ .0733 per share.

So, after the debt conversion, fully diluted there will be 99+ million shares representing the empty shell. I think you're looking at a reverse split before any new investor extends a lifeline to this dead, failed company. At a penny per share, the shell might be a bit overvalued. What's a clean shell go for these days? $500K? More? Less? Remember, Jacobs is already fronting 300 or 400K to keep the shell afloat through March.

Possibly, the new investors will buy out Wallach's, Fleisig's and Postal's B-1 shares, giving them voting control.