Winning Brands Corporation (WNBD)

[doogdilinger]

Perfect answer puppy, therein lies the rub on all these penny tables who have to survive by raising by monies by issuing discount shares against debt.

Only Eric and his lenders know exactly how all the debt conversion instruments have been set up/agreed to over the years!

6 month notes for example when they come due do have to be converted into shares at whatever the original agreed upon conversion feature was ie: whatever discount to bid was built into the instrument like -15% or -35% etc to bid.

So when the treasury stock well runs dry so to speak because the Authorized Share count of 5 Billion shares has been maxed out...if there's still old note holders who've yet to convert any of their old notes...then the company is often forced into 1 of 2 options...either raise their A/S or implement a R/S to make room for the old financing instruments that may be out there that have yet to be converted...or the old note holders threaten legal action.

So to specifically answer your question as it pertains to the following recent quote:

for the record, by way of guidance, it should be anticipated that the full extent of the Authorized Share Limit will be required to address orderly debt retirement, by the end of Q1 reporting period..

All that statement's really saying is by march 31st Eric anticipates that the entire 5 billion authorized shares will have been issued. His comment about addressing orderly debt retirement is irrelevant...it was just Eric's fancy way of saying he diluted the remaining room in available treasury stock to the 5B A/S maximum at some point during the 1st 3 months this year k.

How all his debt funding instruments of the past few years were made and whether or not he has any remaining note holders who haven't converted yet or whether he did any floorless convertibles or other toxic instruments as puppy mentioned only eric knows.

The only sure thing is that WNBD still needs monies to survive...WNBD still has millions in debt on the books...and only Eric and his lenders over the years know the situation on whether or not any of WNBD's lenders still have any convertible financing instruments in play regardless of the fact that as of march 31st Eric is stating the 5B authorized share count is going to be maxed out here k