Replies to post #81962 on 1812 Brewing Company Inc (KEGS)

[newtrader2007]

Janice

So why so many on here talking about Cornell dumping? How many shares did they originally have that could be sold?

Thanks

Newtrader

[AMERICAN_PSYCHO]

Floorlese convertibles do not apply to SWVC. Do you not understand?

xyz1002 said it best:

"The discussion about floorless convertible is not applicable here. Whoever is insisting on it is either half-educated on this stuff or deliberately misleading."


Posted by: janice shell
In reply to: newtrader2007 who wrote msg# 81958 Date:10/26/2007 8:49:24 PM
Post #of 81970

These can't be. Since the Cornell convertibles are floorless, they don't convert to any set amount of stock. Essentially, the lower the stock price, the greater the number of shares upon conversion.

[~ TRT ~]

Janice,

Let's not mislead with your "Cornell convertibles are floorless."

You mean FLOORLESS WITH A CAP OF 4.9% of the Company's outstanding common stock..

With todays share count of 650 million. (4.9 % = about 30 million shares)

That is still only 30 million shares... assuming that none have been sold to date...which is obviously not the case.

Most likely when Cornell is done (if not already) , they will have added far less than 30 million shares to the market.
My guess closer to 20 million. A drop in the bucket the way this stock has been trading.

The market has absorbed the Cornell shares pretty well IMO.


Facts...
Cornell will be entitled to convert the February 26, 2007 debenture on the basis of the conversion price into the Company's common stock, provided that Cornell cannot convert into shares that would cause Cornell to own more 4.9% of the Company's outstanding common stock.

From Janice...
Since the Cornell convertibles are floorless, they don't convert to any set amount of stock. Essentially, the lower the stock price, the greater the number of shares upon conversion.