Comstock Inc (LODE)

[Darwind]

Read this on Yahoo board:

Also, if you review the debentures and debt owed to Winfield of about 14 million (including current interest due and payable), about half of that is convertible at between .01 and .02 (while the other half is at 85% of market price.) Winfield wont convert those shares until they are in the money, otherwise he takes an immediate loss and looses out on any interest payments. Thats why he would only control about 25% of the company if he converted everything at .01 as stated in the 10Q

Can he refuse cash if GSPG can pay him back? Not sure what his options truly are. Maybe because they are late in payment he has the option for stock or cash. Thoughts?

The way I see it is this. He will get his pound of flesh from gspg one way or the other. We have known about this for a while. So 14 million of value needs to come out of the company one way or the other. Still peanuts when you are talking almost 2 billion in relatively easy to get PM's. Let's not forget employee stock options that will get hurt in the event of more dilution as well. So many questions.