Hotpocket, you are completely clueless and a liar.
The news I quoted was from the latest BESE SEC filing. Anybody can go to the SEC website, enter BESE and read the filing for 8/23/10. Or, you can just go to this site to get the latest market cap. At the end of today it was $473,000.
Now, I know you don't know what the market cap means, so I'll enlighten you. The market cap is the total number of outstanding shares multiplied by the price per share. If the company converted $30,000,000 of debt to common shares, the market cap would be somewhere around $30 million. The fact that the market cap is 1.5% of that alleged $30,000,000, plus the fact that this company never had $30,000,000 in debt, plus the fact that you continue to promote that charade kinda means you are a liar.
Add to that the fact that there are only 94,7773,093 outstanding shares, and that really drives home the point that you are a clueles liar. In addition, if any intelligent lender was trading debt for shares, it certainly would not be common shares, it would be preferred shares. Preferred shares get paid off before any common shares in the event of a bankruptcy, meaning the chance to get back some of the investment would be better with preferred shares.
Off-topic, did you see the New York news today? The Feds rolled up a group of longshoremen who were using a heroin smuggling ring to fuel a penny stock pump and dump. They bilked unwitting stockholders out of $7 million while raking in $3 million for themselves. Guess that money will buy a lot of cigarettes in jail. Did you know any of those guys?
