Replies to post #39623 on Bulova Technologies Group Inc (fka BTGI)

[xelandor]

That is the only third party debt. All other convertible debt is owned by related parties.
Related party debt is very difficult to convert and is watched very closely by the SEC for adherence to rule 144.

Here is how restrictive it is.


Trading Volume Formula. If you are an affiliate, the number of equity securities you may sell during any three-month period cannot exceed the greater of 1% of the outstanding shares of the same class being sold, or if the class is listed on a stock exchange, the greater of 1% or the average reported weekly trading volume during the four weeks preceding the filing of a notice of sale on Form 144. Over-the-counter stocks, including those quoted on the OTC Bulletin Board and the Pink Sheets, can only be sold using the 1% measurement.

[jessejames001]

I emailed him and he told me he just cleared 250k worth of debt issuing common shares. I can copy and paste the email but no one believed me last time and I was correct and my email was real.