Replies to post #59469 on Electronic Cigarettes International Group Ltd fka

[Big_Mike]

I agree. I think management is paying all the old debt and will just have the new 13million not left. With revenues coming in I imagine these won't be converted anyways.

[nandipomadagascar]

Yep... but is all the old debt already cleared? By the way this is behaving I'm not that sure...

[SeanBoy]

There is a misconception that a lower share price gets the convertible noteholders more shares. Not anymore, since the conversion prices are now fixed.

That's not a misconception at all.

Fist we don't know how much of the toxic debt remains, if it were gone, they would simply say so. We know it's not gone.

Second, we know that at least part of one toxic note was bought back with a $13M, one and a half month convertible note for which ECIGD had to pay an interest rate of about 41.5% plus 15M (3) cent warrants. The conversion price for the CN was 5 cents. This note will mature in about 3 weeks, When ECIGD has the refinance, what will the reset conversion price and the warrant exercise price be?

Even if you're expecting a new financier, what will the conversion price be of the new note?