CarbonMeta Technologies Inc (COWI)

[golfer123]

they have in excess of $2 billion in convertible debt

From the 12/31/12 10K

Current maturities of convertible debt, net of discount 2,204,710 2,206,247

The holder of the debenture may, at any time, convert amounts outstanding under the debenture into shares of common stock of the Company at a conversion rate equal to 51% of the market price, which is defined as the lowest 3 trading prices for the Company’s common stock during the 10 trading days prior to conversion.

do the math

$2 billion divided by .0011 divided by 2(50% discount) = ????


4,011,358,181 that's 4 trillion potential shares - guess they'll just increase the AS from 13 billion to 13 trillion

it get even worse when you factor in the interest being added to the principal amount of the debt

now you know why they have to continuously reverse split the stock