Replies to post #13363 on PuraMed BioScience, Inc. (fka PMBS)

[beeboy70]

400 million to be returned to the treasury by the ceo as preferred shares.

I urge any new investor to call Russ Mitchell at the company, he is willing to take investors calls.

[sandlover]

If there was

1,070,272,991 according to the 10Q from yesterday.

Obviously some shares got sold on the open market. Where'd they come from the note holders or Russ?


Per 8K on April 30th

the Institutional Investor exchanged $50,000 of the outstanding obligations under the Note for 33,156,499 shares of Common Stock. initially issued by the Company to TCA Global Credit Master Fund L.P., under which obligations of $579,108.74 were owed as of such date.

There is part of the answer. Anyways the shares are being issued by someone. Taking into account the above, it does make more sense that it is the note holders diluting and not Russ. Yet, that is. But if his intentions are to exchange his common for preferred what the heck is the hold up?

Pursuant to the Agreement and subject to its terms and conditions, the Institutional Investor may, from time to time, at the Institutional Investor's sole option, exchange obligations under the Note, in whole or in part, for shares of the Company's common stock, $0.001 par value per share

If they could exchange their notes for shares @ $0.001 why wouldn't they? That is still over a 60% gain considered today's close?