Coastie - thanks for doing the math on this.
So if LJ elects to convert the max 5% of the Debenture every 30 days, that amounts to (500,000 * .05) = $25,000.
Using the math, that is 3,666,667 shares plus $187,917 in cash.
But then they are obligated to provide tranches of $250,000 every 30 days as well so they will need to offset the cost of the tranche with a combination of cash and selling the shares recieved, correct?
WSGI is also obligated to pay a commission to Vista Capital starting at 8% plus Warrants thus applying further pressure to the trading.
It seems that LJ is in a position to realize a return on investment without much appreciation in shareprice, but time will tell if a catalyst for a higher shareprice will materialize such that LJ (and us) receive a windfall of sorts through a more substantial appreciation.
