int10a - This is the part that concerns me iImplant Sciences Corp owes approx. $86m to Platinum Partners, all due on 10/31. $12m of the debt is secured by preferred shares which are convertible into common shares at .08 and .19, with warrants to buy another 50m shares at .19 if the Zapata reverse merger deal goes through.
Implant Sciences execs are on record as stating that Zapata will own 60% of the merged company and Platinum Partners will own around 30%.
That leaves 10%. This proposed distribution must be off? And are we still talking reverse merger?
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