Eye: here are some things to consider.
1) Turek owns PCI.
2) Turek owns Lexreal.
3) The subscriptions were signed and dated for a finite number of shares at a finite price.
4) The new conversion offer by PCI (see 1 above) and Lexreal (see note 2 above) was made for the same number of shares at .00011 per share.
5) The total conversion price of $7.13M dollars was based on far higher prices per share. The first of the four subscriptions was at .011 per share.
6) The new offer would reduce Plasticons debt by replacing the $7.13M conversion with a far smaller new conversion.
7) The smaller number of shares Plasticon would need to sell to pay PCI and Lexreal in cash would eliminate the subscribed debt and help, not hinder, the bottom line. They might also take the money in the form of a long term note, eliminating the need to sell any shares immediately.
8) The advantage is that they reduce the debt burden dramatically, and improve their numbers for qualification on the Amex.
rrm
► Any comment provided is my personal assessment/opinion of the indicated stock. "When the gods wish to punish you, they grant your wishes. Therefore be careful of what you wish for."
