TheDirectory.com Inc (SEEK)

[Snevey]

Well, the debt really didn't disappear. He just shifted the burden to us, the shareholders. Here's what is most likely going to happen, next year, around conversion time. There could be a reverse split. That would allow A LOT of breathing room in the O/S to A/S cap room to allow for the conversion of preferred to common shares. This reverse split will get us to the price of the common shares that someone calculated being just shy of $.01.

Now, this is clearly my prediction and only that. Perhaps there won't be a reverse split. Perhaps we will be an extremely profitable entity and be able to purchase some of the common shares and retire them. That could also help reach the predicted, calculated PPS that was mentioned on here.