Replies to post #19459 on Universal Energy Corp (UVSE)

[Rally Cry]

That's the way I understand it. The OS goes up when the shares are awarded to the CD holder. At that point, the CD holder can either sell or hold.

[mikeyk]

They don't have to sell right away, but they are not allowed to hold more than 4.99% of the O/S at any time as per the anti-dilution clause built into the financial contract. From the sizes of the O/S increases we have seen, I would guess there are at least 2 CD holders converting.