Wednesday, June 08, 2011 8:51:26 AM
I joked last week about OPMG running out of the alphabet with their issues of Series F and Series G Preferred....they must be reading the board...they have started back at the beginning of the alphabet adding Convertible to the name.
please read a little deeper for the conversion rates
The 8k from yesterday is a newly created class of shares....
Series A Convertible Preferred
max issue-23,000 shares sold @ $100/share ....initial valued @ .03 common plus a .07% dividend ---can be adjusted based on subsequent offers
these new preferred shares represent another 76,000,000 (.03)-230,000,000 (.01) common shares after conversion based on current SP at conversion ( no more than .03 and no less than .01)
100.00 share divided by .03 equals 3,333 commons per share after conversion X 23,000 equals 76,000,000 commons
100.00 share divided by .01 equals 10,000 commons per share after conversion X 23,000 equals 230,000,000 commons
Different that the original issued last year
Series A Preferred
max issue 12,130 shares available sold @ $100...valued at .035...no divie
Theoretical physics can prove an elephant can hang from a cliff with its tail tied to a daisy, but use your eyes -- your common sense ----
please DD before you buy or sell
Jimstr
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