1812 Brewing Company Inc (KEGS)

[dirtdealer]

I NEED SOME HELP!!. The PR on Arpil 1st said "In addition, the Company assumed other indebtedness of $1,117,719, of which approximately $150,000 remains outstanding. The remaining debenture accrues interest at 10% per annum and is convertible at the lesser of $0.015 or 85% of the lowest closing bid price of the Company’s common stock during the 10 trading days immediately preceding the conversion date. "

Now the O/S on 4/1 was = 1,019,710,917

And on 4/23 the O/S = 1,124,473,667

Diffrence added of 104,762,750 shares.

Let say for arguement sake that the conversion were taken place at and avg price of .005. That equals (104,762,750 * .005) $523,813.

Damm that's alot more money than $150,000. WHAT OTHER CD'S ARE BEING CONVERTED AT THIS PRESENT TIME? I'M I MISSING SOMETHING HERE?? [/B]