Tuesday, February 05, 2013 11:01:54 AM
I chuckled when I saw that the "bridge financing" had been increased to $2,000,000 with a conversion price of .10.
That is how penny stock companies get retail investors to over pay for shares and prop up the share price.
It's highly unlikely that the debt will ever convert at .10 but will be paid from the dilutive secondary offering which the company is pursuing for $15,000,000 as previously stated at the One Med Forum.
The .10 is taunted by the "pumpers" by saying that investors were willing to invest $2,000,000 for the right to convert at .10 so why wouldn't you purchase shares for .10?
I expect the new secondary will involve shares in the .06 range.
I'd wait to buy below .04 after it is announced.
All imho.
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