Replies to post #81973 on 1812 Brewing Company Inc (KEGS)

[janice shell]

I showed you the terms of the convertibles last night. Maybe you don't understand what makes a convertible floorless?

xyz also said I was right. Why he thinks a discussion of it isn't "applicable" is beyond me.

[TEX]

well, they do apply if Seaway has CD deal with Cornell.

Are you saying no such deal exists?

[DownWithPumpers]

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

Here's the company's recent annual report:
http://yahoo.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?SessionID=MVEJWLDtYGk6dN0&ID=5474448

The word floorless applies since the debentures are converted at a maximum price of five cents and there's no minimum price; as the stock price falls the conversion price continues to fall.