Lifeline Biotech ( LLBT LLBO)

[uwlungman]

interested_party. You're right about getting screwed...
As long as the price is above 0.1/share we come out ok but if the price drops below that, we lose. For example, use their example b that is given on the website but change the values to 0.0005/share rather than the 0.05 which they use. You now get from their example---"(b) Assume you hold the same 1,000 shares of the Preferred Stock. Assume further that the market bid of the Common Stock is $0.0005 per share. The number of shares of Common Stock which you can receive upon conversion will be 10,000 ($1,000 divided by minimum price of $0.10 per share). The $0.0005 bid is below the set minimum of $.10 per share." To put it in perspective, assume that your 1,000 Preferred shares (1.6 million common shares before conversion) were bought at 0.0002 (around my average). That means the 1,000 Preferred shares cost me $320 (additional costs such as commissions or special fees being neglected for sake of clarity). They are now worth $0.50 (1,000 Preferred shares x 0.0005/share). No much of a deal then.