Read this:
NEW YORK, NY, August 15, 2007 – Seaway Valley Capital Corporation (OTC Bulletin Board: GSCR) chairman and chief executive officer, Thomas Scozzafava, issued the following letter to its shareholders today:
Dear Shareholders:
I would like to reiterate the basic terms of the transaction
Seaway Capital, Inc. structured with GreenShift Corporation when it acquired GreenShift’s majority stake in Seaway Valley Capital Corporation. With the exception of certain convertible debentures, all of the operating assets and liabilities of the Company reported as of June 30, 2007 were acquired by and transferred to GS CleanTech Corporation, an affiliate of GreenShift. The convertible debentures that remained at the company totaled approximately $1.52 million, including those of Highgate in the amount of $1.23 million. Seaway’s records indicate that at least two thirds of the Highgate debentures have been satisfied to date. To mitigate the total impact of the additional common shares issued as a result of these convertible debenture conversions, Seaway Capital, Inc. reduced the number of common shares outstanding by over 322 million shares.
2/3 x $1,230,000 = $820,000 (Highgate)
$1,520,000 - $820,000 = $700,000
$700,000 worth of Cornell/Highgate convertible debentures remained as of August 15, 2007
I will do more math from August 15 to the present for a potential answer to your question. Give me time.
Posted by: newtrader2007
In reply to: AMERICAN_PSYCHO who wrote msg# 81930 Date:10/26/2007 8:21:30 PM
Post #of 81934
AP
Understand your very busy. Concerning Cornell how many shares were originally issued? And how many do you feel might still have? Thanks, And good luck!
Newtrader
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