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Friday, February 08, 2013 11:41:25 AM
I don't know if they can just specify a number of shares/dollars they want to convert for a group of days, or have to work from the lowest bid each day they want to convert.
If it's the first, then we'll see a lot of shares because the conversion all occurred at about $0.0012. If it's the second case, then they could have done some conversions at, for example, $0.0012 on day 1, $0.0015 on day 2, $0.0019 on day 3, etc.
The 8-K will show the reduction in debt along with the total number of shares converted, so at least we'll see an average price.
If the average price is around $0.0012, then the former method applies, but if the average is better than $0.0015, then it's likely the latter case.
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