It depends on how you look at it. In the 10QSB from Nov 19, 2007 they stated the following:
"At any time, holders may convert the Debentures into shares of common stock at a fixed conversion price of $0.84, subject to adjustment in the
event we issue common stock (or securities convertible into or exercisable for common stock) at a price below the conversion price as such price
may be in effect at various times (the “Conversion Price”)."
I am assuming this means they issued more common stock at a price of $0.60. If this is what has occurred then it is in line with what I have been expecting. Cryoport needs more capital to fully implement the business plan. It seems like they are finalizing the last bit to execute that plan. In my mind this is a good event only because they have at least 1 million plus still on the books so they don't need that capital currently; unless some large orders have been placed and they needed the money to fund the production of the shippers for these orders.
just my two cents, do your own DD.
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