Ahhh.ok ;-) behind my coffee consumption profile by a cup...
Well the idea I have seen floated is that the "equity investors" buy out the notes (following your analogy with a mortgage)...or buy enough stock to allow the company to buyout the notes so they aren't left sitting behind a bunch of convertible debt...with their equity.
While it is certainly an attractive notion...it is unlikely for a few reasons:
1) The current "ripe" notes allow the noteholders to make 300-400% on their money. They aren't going to wait around to be "bought out" and make only 15-20%.
2) If Tom REALLY had good equity offers, he would certainly have taken them by now to buy out those notes in October BEFORE they hit their 6 month maturity...and if he had access to ANY better financing than convertoble debt he would not have sold yet another note on October 12.
...and frankly if the conversions have started back up and yet more convertible debt continues to hit the books (which won't be known until mid February anyways) then it is hard not to conclude that all of Tom's statements about equity investor interest is not what it seems.
Should have known better than to buy the hype 3 months ago but put in a little purely gambling money on the "poop your pants" news coming and promise of fins getting current. That was at .057 and all we got were useless "teaming up" with "possible, potential, going to be big" companies. NOT buying them out or visa versa. Couldn't even get a decent bump to get out on. Tenay is right that Tom, good intentioned or not, should stop hyping and actually DO or sell SOMETHING. Enough cheerleading from like of "afraidandwantsmore" and more "work" on Tom's part or cut the losses and stop leading 8nvestors on
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