Fuzzy math!
playstay77...you stated "The recent 8k filing reveals something huge. HH LLC. is giving them (.015 per share) in the conversion..."
the aggregate conversion of $176,780 / 118,904,071 shares = .0014867 pps.
you missed a zero...unless my calculator is wrong...or i'm dividing wrong!
more so, the conversion of $55k / 55 million shares = .001 pps.
besides the simple math, can you clarify what the filing of the 8k really means? as i understand it...all that happened was that Highgate House just invested $55k more directly instead of through a discount broker like you or me. question: why not just buy common shares like you or me? what is the advantage of converting a debenture into common stock at such a higher price (.0015) then what it is trading at right now (.0003/2)?
seems kinda strange for Highgate House to accept such a high share price (.0015) conversion rate when GLBM has been trading around .0008 on average for about a year! again, why invest $55k more on debenture only to convert it to common stock at such a high cost?
can you enlighten me? thanks
invest
