"why else would you convert."
You would convert because stock that you can sell into a liquid market is more valuable then a debt that is outstanding.
In my experience converted stock usually gets sold off as soon as it is allowed depending upon restrictions placed upon it. If the stock was unrestricted, that would explain who was selling shares to everyone here today. Thankgoodness to all involved there was no convertible debenture as thats the kiss of death to a company like this.
This does appear to be the first step towards financing and hopefully is an indicator of positive news in the near term. However, i would expect to see increased volume to continue until about $140k of stock has changed hands. Hopefully cementing a base at the .004 cent price.
I'd still buy a million or two shares if the volume has an adverse effect on the price and moves it down into my target range again.
Overasll, i see it as a positive move in the longterm
Robert
There are no good stocks, only good trades.
