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Re: yellowjacket post# 191966

Thursday, 10/22/2009 12:38:40 PM

Thursday, October 22, 2009 12:38:40 PM

Post# of 326400
YJ: from my recollection the Series C and the debentures are linked at the hip. If we pay off the debentures the conversions stop, right?

When YA converts Series C the price to be paid for the stock received is actually recorded as a payment on the debentures (and I don't know why they are called "debentures"; they are, in fact secured). So the "payment" actually is simply a reduction on the principal/interest owed on the "debentures".

Any legal analysis I post is not a formal legal opinion and may not be relied on by anyone for any purpose. If you want legal advice you can rely on, hire a lawyer.