$ Dilution = ~$18,800,000 [7/12/07-10/17/08] ...
Using the TA dates + O/S numbers provided by Rpt , [thanks] ,
and the trading prices corresponding to the time intervals.
Most of it [~$17,000,000] was before June of 2008.
It does Not matter if it was 'Cadent' .
Just that it was ALL Dilution , probably mostly from
Converting CD's ; And, maybe some directly from the swvc
'Treasury Stock' , to balance the constant cash-burning
of swvc's 'businesses'.
But, it Does matter that there are still ~$12 Million 'worth'
of currently over-due Floorless Convertibles , All waiting
to Convert to commons , ASAP , before sw-whatever goes BK.
Only ~$1,800,000 has been Converted , since June 1 , 2008 ;
So, At Least ~$10,000,000 is STILL WAITING to Convert , NOW.
At today's VFAP of $0.0002 , [Assuming that it Never Drops]
each 1 Billion of new Conversions , Only pays-off $200,000 ;
So, when the 10 Billion A/S is all used up , LESS THAN only
$2 MILLION OF THE AT-LEAST ~$10 MILLION OF FLOORLESS TOXIES
COULD CONVERT. And, probably Way Less , because :
1] swyv is probably the main Diluter , as the CEO Must 'vote'
to put swyv Ahead of All Converters , to get the $800,000 in
brand new cash , to try to pay Wells-Fargo , before November.
2] The Conversions will Not go through at $0.0002 , because
the price Must Sink , as Dilution Increases the O/S from
~1 Billion TODAY , Up to the 10 Billion Max.
According to the most basic 'market valuation theory' ,
when the O/S rises by ~10x , the price drops ~90%. So,
after just another 1-2 Billion Conversions and/or swyv
'Treasury' Dilutions , the trading price will sink below
$0.0001 , and All trading + Conversion will Stop. And, just
have to wait for the next Reverse-Split. [Probably 1-for-1000]
If less, the only reason is to deliberately delay Converters ,
[just like the recent 1-for-5] , as will be soon shown , when
the trading price drops below $0.0001 , WAY BEFORE THE
10 BILLION A/S ARE USED UP.
By the way; When those T-Trades 'go through' at $0.0002 ,
that's what 'the retail buyers' [whoever they are] are paying.
But, the Converters are probably only getting $0.00015 , with
the MM's profiting 25% on the spread. So, whenever $1 Million
Converts into the float , the Floorlesses Only Get ~$750k ,
And, they won't be done until they Actually Receive ~$12 Mil.
Hope this helps clarify the 'picture' , that a few have been
trying to explain for ~1 year. It is a most-perfect display
of a totally inescapable 'Death Spiral Financing' PLAN.
extra, Sincerely.
P.S. ; Usually , there is No Way to escape the Death Spiral ,
because ~All of the Floorless Cash is Owed to Toxic 'Lenders'
who Won't 'negotiate-down' , especially to a 'company' that
will be BK soon , because it keeps/always losing more cash.
[Even before a multi-year, World-Wide Recession, or worse.]
But, swyv does have a big chance. The CEO could 're-negotiate'
his own personal 80%. And, 'convince' his family to 're-neg'
their ~9.8%. And, 'convince' his new COO to 're-neg' his own
personal ~5.2% AND, THEY MIGHT EVEN DO IT. Because, if they
don't, they will Never Be Paid Anyway. But, if they Do It ,
they might delay sw-whatever BK , and collect something for
the worthless 'assets' that they All dumped into the original
swxx Floorless + Toxic Debt over-loaded , not-ever-empty ,
trade-in shell. And, they could even keep paying themselves
salaries + even bigger bonuses , for 'saving' their 'company'.
Only 1 slight 'problem' for All common 'share'holders. In the
'vote' , where all of this 're-negotiation' is 'approved' ,
by 80+% , by 1 or 2 'voters' , All common 'share'holders
will also 'agree' to be re-neg'ed , to ~$zero , All combined.
Let's see what happens. It should be done by Christmas.
Or, November, unless Wells-Fargo decides to keep waiting ,
not-really-patiently , a little longer. Which they might.
If they can get more of their super-sub-prime 'loan' repaid ,
by making the swxx Insiders 're-neg' their Floorless Toxies
to ~$zero , and 'limit' their salaries + bonuses. AND ,
re-plan for Much More Massive swxx 'Treasury Stock' Dumping ,
to cover swxx 'business' losses AND MAKE ALL WELLS-FARGO PAYMENTS,
ON TIME , JUST THIS VERY LAST TIME. It's definitely risky for
Wells-Fargo ; especially with politicians now watching ,
more than ever. We expect that if WF can get ~mostly repaid
by foreclosing + liquidating swxx , starting in November ,
they will probably [should] choose that plan. And, the
swxx plan-man + lawyers + accountants probably will not
forget to inter-look those Facts. [Overlooking is over.]
Averaging-down is profitable, for shorters, only.
AI
