I don't like what the company has done to the current share holders. As far as I can tell from the most recent 8-K filing, Triumph Small Cap Fund, Inc. bought $1,500,00.00 worth of convertible notes from a "Secured Investor". Then the company made a deal with Triumph to convert the debt at one share for every $0.0025 of debt. That would mean Triumph is entitled to 600,000,000 shares. What a Deal! I wish I could make deals like that! When the company first made the deal, the shares were trading at almost $0.07 a share. This deal represents a net gain for Triumph of 28 times their investment. No wonder why Triumph doesn't care what price they sell their discounted shares at. Even at the current price, it is still 5 to 6 times their investment. The worst part is Triumph is only about 15% of the way through the shares they are entitled to by the terms of the deal. Also, some of you have mentioned that at least the company moved to stop the variable conversion rate. Well that was no big deal because the market should be able to handle all 600 million share that triumph has to dispose of without dropping below the 0.0025 so of course Triumph had no problem dropping the other option. Even if the last 150 million shares only trade around 0.0025. They still made a killing off of the other 450 million shares.
Just a warning to the people that want to hold. I don't know if you will ever see your 0.05's or 0.07's again with the dilution. You have to remember, to get back to $0.05 again that would be the same as $0.30 before the dilution. That is assuming the 720 million share which will be outstanding when Triumph is done.
Well, good luck to everyone. I just wish these types of back room transaction were illegal because the only ones they hurt are trusting shareholders like ourselves.
