Replies to post #2384 on ECGI Holdings Inc (ECGI)

[Helter Skelter]

2 year old notes don't crush the share price...
Ya think they are gonna sell down here with a market cap of $280k starting the day...???
Where do you think they will sell?
Here @ market cap $280k or a little later @ market cap $2.8million? Or higher, on the way UP...? I believe we go UP before anyone starts selling big time...if ever...lol...GLTY

I think they want her way high so they can rid themselves of ALL debt. JMO



$ECGI

[Helter Skelter]

Well, we lost 7.09¢ from our 20 day-closing-average convert-strike-point...the past couple days...

There are 5 convertible notes. #1 converts @ $3 and the holders seem oblivious (in AU) of even holding a note. All 5 notes are in default which from my DD indicates that they are not fixed conversions (@ 2.4¢, 60% of 4¢ ) any longer and, since default, are now calculated by taking 60% of the average closing price for the 20 days prior to conversion.

So, add up the closes for the past 20 days. Ex: .01025 + .01 + .0074 + .009 + .01, etc...divide that total by 20 (days). Then take 60% of that.

I got .33171 total for the 20 days including today. We lost .0379 (day 21, 3/28) and .033 (day 22, 3/27) from the 20-day-sum-calculation. That hurt.

.33171 / 20 days = average weighted price of .0165855.
60% of .0165855 = .0099513.

This is today's Conversion Price for the 4 convertible notes >> $0.0099513

Tomorrow we lose an .03 (day 20, 3/29) from our total and pick up perhaps an .01 for a net loss of .02 which would put us around .31171 / 20 days = average weighted price of .0155855. 60% of equals .0093513...



I had originally calculated the 4 convertibles using 60% of .04 (.024) to calculate the convertibles' conversion totals (all have the same terms). Now we have a variable conversion price. It's now (today, changes daily) 87 million shares if all were converted tonight or early tomorrow.



I believe this is accurate. CEO Wong can correct it if it's not...

Looks like a lot of shares but can easily be eaten up with a couple/few rally monkeys... :)



$ECGI