Mind Solutions Inc (VOIS)

[jyjreyes]

If you are wondering why this stock is being held back, two words: toxic financing. From the 10Q, Note 10 we get the following numbers,

Securities Purchase Agreements with the following
January Asher Enterprises $32,500
February Hanover Holding $16,500
February Magna Group $40,000
March Asher Enterprises 32,500
March Hanover Holdings 16,500
March Magna Group $40,000

If you add the totals you get $178,000 in financing. How many millions of shares does this translate to? The 10Q states that Magna converted the first $40,000 into 18M shares (that's .0022 per share) and the second $40,000 into 30M shares (that's .0013 per share). I would assume the other lenders got similar deals, the 10Q does not specify what their conversion rate was. So basically they bought millions of shares at huge discounts from current prices so they are trying to unload at any price above their discount.