Dilution Has Been Completed! I have been here for a long time and the company had stated for 6 months now that the notes would be converting.
If you review the filings, beginning with December 2014 you will see several Convertible Notes were issued.
The company filed an 8K for every conversion since, which allows us to track how many Convertibles were converted and how many were left.
The company just put out an 8k on Friday which showed the last 2 conversions for about 10 million shares and the rest was swapped into Preferred Shares at 1 cent per share at s fixed price and 1/1 Ratio.
The last note was set to come due and they were able to get out in front of it to avoid any additional conversions!
The fact that the noteholder agreed not to convert into common shares and elected to swap for Preferred Shares is very positive!
They obviously know the company is now well Capitalized and that the share price is Undervalued as they have a fixed price almost 2x the current Price. Also, if the noteholder thought there was a liquidity issue going forward they would never agree to taking shares over exercising a note!
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