OK Awaken, get your calculator turned on and do the math on the conversions.
Awaken wrote:
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Lol o.k., according to what was copied yesterday, nothing is being converted below .20c. Please provide proof, and please don't tell me it's less than 100,000 shares or something either if they've even ever been issued below .20. I dont believe things that have no proof.
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Here are just two examples:
On September 28, 2013, Evolution Capital LLC elected to convert 221,108 shares of common stock with an aggregate fair value of $61,910($0.28 per share) based on the quoted market price of the shares at time of issuance for $36,000 for principal and interest and $25,910 for debt discount.
Evolution has less than $36,000 invested in 221,108 shares. Part of the $36,000 is the high interest being waived on conversion. The debt discount is the difference between market price (.28 cents) and conversion price. Let's forget the interest for the moment and say they actually have $36,000 in the loan. $36,000 divided by 221,108 is 16.28 cents per share. So on this particular conversion Evolution can sell the stock at any price above 16.28 cents and make money. Sounds pretty good right? So how can we get this deal too?
Next example is:
On October 24, 2013, Evolution Capital Fund I, L.P. elected to convert 227,342 shares of common stock to convert $26,000 principal amount of a Convertible Promissory Note.
We wont know what the interest and debt discount is until the 4th Qtr filing. The deal happened on Oct 24, 2013. But it will be something like the previous. $26,000 divided by 227,342 is 11.43 cents per share. Nice payday for the converter.
Now all 1,042,000 shares converted have a similar story. All converted at substantial discounts to market. Plenty of overhanging stock for sale.
