Wednesday, December 11, 2013 1:02:20 PM
The COO made it pretty clear to all who cared to read his response to Elm's questions that the company intends to keep their money for company operations and let the debt convert. This being the case, there is no reason to believe they would buy shares on the open market when they still have sizeable convertible debt to convert out. Furthermore, why would they buy shares on the open market, when most likely they will just do the R/S once the debt is converted? This scenario is without a doubt the most profitable for the company long term.
It makes no difference to the debt holders where they convert, as long as they can sell for a profit. Even at No Bid, the converters could make instant money selling at .0001 after converting at .00008. Fact is, the debt holders stand to make their best return if the stock goes to no bid, as every tick is more than a 100% gain for them on the converted debt to shares. A mini run down there gives them a windfall!
"Always look on the bright side of life!"
Eric Idle
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