Finjan Holdings Inc (FNJN)

[Ecomike]

http://secwatch.com/converted-organics-inc/s1/ipo-registration/2011/6/24/8902240?full=true

This prospectus relates to the resale of 87,172,755 shares of our common stock by one of our stockholders, or selling stockholder, named in the section of this prospectus titled “Selling
Stockholder.” The following shares may be offered for resale under this prospectus: 60,241,177 shares underlying convertible notes and 26,931,578 shares underlying warrants issued to the selling
stockholder in a private placement.

Not sure which batch of shares this is, but it sounds like the convertible debt shares. But I think it is clear that is not new shares from COIN being sold for cash to go to COIN. IT was one of the many huge hoards of shares they let loose in the last 12 months with debt conversion and the Terra merger, that are now being registered for resale. Bottom line, IF they sell the shares, COIN is going way down fast, unless the market already discounted this expected news with the 90% drop we have already seen!

This is the first of many shares that will be resellable periodically the rest of this year, and the reason I had hoped to see a rally first on any kind of good news on new sales (but no Joy there) so I get out with at least one piece of a shirt left before all these new shares became re-sellable!

Bottom line, COIN does not get a dime out of these shares, they are just registering debt converted to shares on the old news.