Universal Energy Corp (UVSE)

[Ranb2khz]

IMO...

I believe that the latest debenture was complete by the following day of UVSE's July 8 PR. I read most of the 150+ page 8K and from what I understood they would have only been able to convert upto a 4.99% ceiling, or 12,475,000 shares of 250mil O/S. There was a clause in one of the exhibits (that I really didn't understand) that did state that under certain conditions the ceiling would increase to 9.99%, or 24,975,000 shares of 250mil O/S.

If the entire debenture of $2mil were to be converted (at a 4.99% ceiling limit), than that would equate to approximately 100mil shares at 0.02 share price. If the company wishes to reward the debenture holders with the entire 100mil shares at 0.02 share price, then the additional A/S required to be issued would be 1.75bil shares.

So, I suppose the question is...what exactly does the company want to do with this? If they wanted to help the majority of individual shareholders then they would not issue any additional shares until the debenture was paid back, or if they did issue additional A/S they would limit the amount to a maximum of equal the current A/S.

Just the opinion of a long newbie...GLTA (but shorters!)