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tedpeele

10/11/16 12:11 AM

#42906 RE: poker face #42905

it drives me crazy too poker face. Intuitively we think debt and interest on the debt is to be paid off outright in cash. But, what about the ability to convert $5.2m in debt to shares at .08 = 65 million shares? Is that simply wiped away by paying $5.2m in debt? 65m shares at .19 valuation is roughly $14m If L3 was paying some $400m then those shares would be worth $140m or so - PP wouldn't accept just $5.2 million for them.

So, I maybe was just flat our wrong in saying $33.4 m is left in cash since PP will have the ability to convert at least the .08 shares.

wish I hadn't bolded it now, as I am confused on the calcs.