Value Microcaps Motherboard

[cleverrox]

VPHM CC Notes.

Last $16M 2009 notes could be converted by June 30 voluntarily or auto-converted July 1 by VPHM.

CD 027 infections have spread from 6 states to 15 states and growth is probably obscuring any seasonality where Vanocin use is typically slower in the summer months.

Inventory of wholesales appears to unchanged at 2-3 weeks inventory.

There will be 58M shares outstanding + any shares used to pay the make whole debt, which should not be more than a million or two shares.

Interest expense is going be lower which could partially offset the Monte Carlo charge, but probably not by more than $1M according to my calcs.

Any re-financing of the 2007 debt will be non-dilutive.