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OldCrippledHobo

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OldCrippledHobo

Re: SIIX post# 97863

Monday, 01/13/2014 2:59:09 PM

Monday, January 13, 2014 2:59:09 PM

Post# of 148342
Found this posted on the board back in December:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=94930760

The new 1 billion shares issued are for collaterlized debt. My guess is these will be given to Wells Fargo in case they won't be able to pay interest, these will be converted. These will be restricted or preferred IMO.

The 750 mil will be retired from previously issued shares. These will be in addition to 340 mil buyback announced previously. So total reduction in SS is 1 billion.

The company has said that prior debt holders agreed for these reduction. I think that they are retiring shares that might have been allocated to Hydraki aka one day cruise. Since the company is not moving forward with the merger these will be retired. IMO

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