Michelex Corp (fka MLXO)

[rpt]

Also the conversion rate is tied
to the PPS at time of conversion...So the lower the PPS...The more shares Cornell collects...So it's in their best interest to drive the PPS down as low as possible, by shorting, before converting the CD.

Here's how GCCPe's is set up..

Cornell Capital Partners owns a 5% Secured Convertible Debenture that it may convert into Global Concepts common stock. At the market price on May 18, 2005, the debenture could be converted into over 6,000,000 shares. The likely result of Cornell Capital Partners selling such large quantities of stock to the public would be a steep reduction in the market price of Global Concepts common stock. Since the conversion feature of the 5% Secured Convertible Debenture is determined by the market price, a reduction in the market price could result in even larger numbers of shares being issued, if Global Concepts were to take advantage of the full line of credit.