Laurus holds rights to 56,000,000+ shares for the few million they loaned WEGI. They have one block of over 11,000,000 shares at .01 per. MOST of These shares are YET to be registered, Laurus WEGI just filed, registered, sold 5 million shares few weeks ago. Watch out if they cant sell the shares fast enough for profits they will short it down to sub penny to make money IMO. IMPO Laurus is scum toxic financeer....
As of December 31, 2006, Laurus Master Fund, Ltd. (the "Fund") held (i) an Amended and Restated Secured Convertible Term Note in the aggregate principal amount of $5,942,175, which is convertible into Shares at a conversion rate of $0.09 per Share, subject to certain adjustments (the "Term Note"), (ii) warrants to purchase up to 13,750,000 Shares at an exercise price of $0.10 per Share, subject to certain adjustments (the "Warrant"), (iii) an option to purchase up to 28,895,179 Shares at an exercise price of $0.01 per Share, subject to certain adjustments (the "2005 Option"), (iv) an option to purchase up to 11,145,000 Shares an at exercise price of $0.01 per Share, subject to certain adjustments (the "2006 Option") and (v) 2,611,111 Shares.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.