Cyberlux Corp (CYBL)

[research177]

Analyzethis, people seem to have missed commenting on a very interesting part of your post of the November 19, 2007 CYBL SEC 13D filing. Look at this bold marked item in that Edgar filing:



On November 10, 2006, UTEK entered into an Agreement and Plan of Acquisition pursuant to which it received 98,000 shares of Series C convertible preferred stock of Cyberlux Corporation in connection with the sale its wholly-owned subsidiary, SPE Technologies, Inc. (“SPE”), to Cyberlux Corporation. At the time of the sale, SPE held $250,000 in cash and technology licensed from Rensselaer Polytechnic Institute. The 98,000 shares of Series C preferred stock are convertible into $2,469,600 worth of common shares of Cyberlux Corporation at the option of UTEK at any time after November 10, 2007, with such stock being valued based on the average of the closing prices for the Cyberlux Corporation common stock for the 10 trading days prior to the conversion of the stock. Cyberlux Corporation has the option of delivering $1,520,000 in cash to UTEK in lieu of the shares of common stock upon conversion.



That sheds a little more "light" on the situation.

JMHO