Clear Skies Solar, Inc.(fka CSKH)

[up-down]

Let's hope the conversion of the Anstalt notes are now complete as they are now due (again)

"...On July 13, 2010, the Company entered into an Amendment Agreement (the “Amendment Agreement”) with the holders of its Notes and related Warrants purchased pursuant to those certain Subscription Agreements, dated as of May 8, 2009, July 28, 2009, September 16, 2009 and January 6, 2010. Pursuant to the terms of the Amendment Agreement:

(1) the conversion price of the $728,000 aggregate face amount of the outstanding Notes was reduced from $0.06 to $0.03 per share;

(2) certain of the outstanding Notes with an aggregate principal amount of $420,000, plus interest to July 12, 2010, were converted into 14,609,088 shares of common stock at $0.03 per share;

(3) the maturity dates of $275,000 aggregate face amount of the Notes due to Alpha Capital Anstalt (“Alpha”) dated July 28, 2009 and September 16, 2009 were extended from July 28, 2010 and July 31, 2010 to January 28, 2011 and January 31, 2011, respectively;

(4) the purchase price of all of the related outstanding Warrants, to purchase up to 12,440,475 shares of the Company’s common stock, was reduced from $0.06 to $0.03 per share;

(5) upon exercise of these Warrants, the Company agreed to issue an aggregate of an additional 4,523,357 shares of common stock;

(6) the Company issued an aggregate of an additional 2,950,000 restricted shares of its common stock to the holders of the Notes as incentive shares; and

(7) the Company agreed not to issue shares of its common stock or other securities convertible into shares of its common stock, for a one-year period, for a price per share of less than $0.03 (the “one-year price floor”)...."



Luckily, CSKH didn't take any more cash than they did from this deadly and ruthless hedgefund. Anstalt sues companies it provides financing too to force very dilutive conversions.

see #msg-54830861 and #msg-58862348

The charts of the above companies are eerily similar to CSKH.

Goodbye 2010 and Jan 2011 and good riddance! May Feb 2011 be CSKH's time to shine.


http://www.google.com/search?q=+alpha+anstalt+barry+honig