Universal Energy Corp (UVSE)

[Dr. King Schultz]

brody, 80% of BID, not ASK:

OK the quote is .0001 bid / .0002 ask. If you assume the price on which the conversion is based is 80% of .0002 then my $700,000 in debentures is convertible into approximately

From the last 10-Q:
"...through the issuance of shares of our common stock, based on a price per share equal to 80% of the lowest three (3) closing bid prices of the common stock over the 20 trading days immediately preceding the date of such payment."


So, if we have three closing bids of 0.0001, they convert for 0.00008.
Yesterday was the first day of 0.0001 bid close....