"Can you tell us what these notes were for?
and when?"
the convertible notes, valued at $6.2 mil in Dec 04, were issued as payment for a group of leases known as the "Wooldridge Leases". Between Dec 04 and Dec 06 these notes were converted at $0.10/share ... being fully converted the notes were extinguished in early 07(ref to 2/7/06 PR).
"for what dollar amount? ... How many shares are we talking about?"
Do the math
"Do you know what the share price was at the time?"
Higher than $0.10
"Are YOU and LOU saying that the O/S is more than 68 Mill"
Yes ... approx 85 mil ... and note ... of the difference between 68 mil and 85 mil, approx 8 mil shrs were legitimately owed to JL by my estimate
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