Fiat....8-k dated 7/5/07....Dr. Swift purchased $100,000 of units and assisted Basu Capital in performance of advisory services with respect to the corresponding Securities Agreement, for which he was compensated (i) $56,400 in cash from proceeds paid by the company to Basu Capital and (ii) an allocation of options to purchase up to 17,908,914 shares of the company's common stock at $0.001 per share expiring April 4, 2009 from the options allocated to Basu Capital in connection to the performance of its advisory services.
I do not know how these options work. I guess Swift can convert on the day the stock price hits $0.001. If this doesn't happen by April 4, 2009, then he cannot convert? Could you explain how this works to me??
