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testline8

10/25/07 1:42 AM

#78580 RE: Ace Magoo #78577

Ace - agreed on the math and that we are ok.

I don't think the 8K wording said Series B was convertible to 80% voting rights.....just 80% of OS. My take on that is .8 * 450M = 360M.....so total of 810M. Of course I think this would only be used to prevent take over or give Tom a good out if that would happen. I don't think it is there as a chance for him to cash out and screw everyone.

Agreed on the count discrepency too. Not matter which is correct it is even worse to have it unclear.

Guess we just need to wait and get a clear picture from Tom in a PR. I'm still confident we are in good shape!