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Re: lesgetrich post# 61074

Sunday, 01/27/2013 10:12:39 PM

Sunday, January 27, 2013 10:12:39 PM

Post# of 67010
The toal amount that can be converted is the net carrying value + the unamortized discount as I explained in my prior post, so what can be converted, at a discount, is higher than $84,000.

I am unaware of any line of credit this company has, was there an 8k filed ? Or where does this appear in their 10k or 8k filing?

Company cant go and sell shares on the market with proper registrations etc. Even if they wanted to pay off convertibles usually there is a penalty fairly similar to the discount.

I admit I dont know under their s8 registration if officers can sell without filing new form 4,so most likely convertible note holders will just keep selling whenever there is demand.Also, looking at their last 10q shares were issued for accounts payable etc, most likely restricted shares that after 6 months can be sold.So shares issued prior to six months ago can now start hitting the market.

So talking about speculation, what do you forecast their outstanding shares by end of the year ? I am thinking after looking at their 10k and 10q comments, and quarterly cash usage per last 10q they will end up at least 150 million if not 200 million by end of the year. what are your thoughts ?

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