Yes, they put $500,000 of their own money....
Now thats a show of confidence..
Most penny CEO's take money out...not the other way around.
Posted by: az_maverick
In reply to: crooked33 who wrote msg# 95440
Date:11/14/2007 9:40:44 PM
Post #of 95454
Crooked,
Read what is says...remember that these are "risk factors" first of all, so they have to be somewhat boilerplate, but its presenting the case from the point of view of SWVC as a whole company.
It is merely saying that if Tom and Dede (who loaned the $500,000 for Wisebuys purchase and received debentures) were to cash in their debentures, they would get approximately 43,000,000 shares as of the market price on Sept 30.
They have to report this because it is above the 5%, and it is basically precautionary, cover you ass nature...
Tom and Dede aren't going to cash these in any time soon, so it really is a moot point. The point is it has nothing to do with the amount of shares that can be drawn further to take down the other debentures.
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