1812 Brewing Company Inc (KEGS)

[looznbux]

CORRECTED POST: First of all, I'm NOT bashing...I'm a long-term holder.

However, given today's PR (http://www.pinksheets.com/pink/quote/quote.jsp?symbol=gscr#openEdgNews8680123) which in part states:

"The convertible debentures that remained at the company totaled approximately $1.52 million, including those of Highgate in the amount of $1.23 million. Seaway's records indicate that at least two thirds of the Highgate debentures have been satisfied to date."

Here's my math:

$1,520,000 x .66 (two thirds) = $1,003,200 in debt paid

Assuming 30,000,000 in volume today & assuming an average price of .0065/share, that's only $195,000, leaving ~$300,000 in debt to be repaid to Highgate.

I still think we fly with the name/symbol change, and as I said, this is the ONLY otcbb position I've ever considered a long-term hold because I believe in the future possibilities with the acquisitions.

However, is there something I'm missing here? Are my calculations with respect to the remaining debt screwed up?

TYIA.

Cheers!!!
Looz ;-}