Whether we applied 1c for 89MM shares and 0,003 for 200MM shares, the math is close to reduction of $1.5 million in convertible debt since 8/19/2014. This is an enormous reduction, comparatively, and also points to the fact that the company is effecting debt to equity conversions at considerably above par which improves shareholder equity, long term. Had Magna's terms been the standard 60% discount 15 days look back, this thing would have hit sub par already. That is not the case.
What $VPOR needs to do is to continue improving top/bottom line revenues which would qualify them for financing at fixed conversion terms. Each time a note is issued, the company is able to buy 6 months of time and delay dilution by 6 months while potentially forcing lender conversions at a much higher pps than today. If we were reviewing an issuer with no revenues or prospect to be revenue generating in near term, it'd be a totally different story.
It's not going to take $VPOR a long time to really flip its balance sheet, and the best way to do that is to continue reducing debt while increasing revenues. The company is doing that and with flying colors. I really like their revenue performance this year. Very, very good.
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