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brewskih

04/27/06 11:17 AM

#70805 RE: beam11 #70799

Any thing they converted to date will be sold I believe even at .20 although I expect they already moved the bulk of the 40 million. They wont exercise the remaining 10 million , but they surely wont hold onto any of what they already have exercised, even if its break even. Thats their pattern and history. And as for the other 10 million, I know NEOM can force them to exercise, but I believe theres a provision that states they cant force them to exercise if the pps is below their exercise price. I will have to check that though, but thought I read it in the agreement.