Replies to post #12849 on 141 Capital Inc (fka ONCP)

[MuchCompensation]

I knew my spidey sense told me there was a reason that the 10% of O/S rule with the share "unconversion" jumped out at me, I think I just figured it out.

The last reported O/S was from this post.

Posted by: nukuhiva Date: Monday, March 30, 2009 3:03:53 PM
In reply to: Traderfan who wrote msg# 12680 Post # of 12849
I called the the Ta today and the only information I got is that the OS is way over 100 Million without an actual number ,Hopefully the money went inside the Pool 1

OK, Then Traderfan pointed out that there were 30 million shares traded, in the last few weeks.

So, for the sake of argument let's say the O/S is 300 mil (post R/S Trader)

Now, let's look at the terms of the company to "unconvert".

"from the 141 site"
Should the conversion of these shares result in the beneficiary’s holdings exceeding 10% of the issued and outstanding Common Stock of 141 Capital, you are hereby
requested to (clearly indicate one):

a. Adjust the number of Series C Preferred Shares converted such that the total holdings of ONCP Common Stock will not exceed 10% and issue unrestricted Common Stock.

b. Convert the number of Series C Preferred Shares requested and issue restricted Common Stock.

.

Here's the point.

If you invested $1000 dollars @ .0001 and held 10mil shares (for example) before the conversion, and converted they would be worth $10,000 now. If you didn't convert, you wouldn't understand why, but I'm not going to get into it right now.

So, $10,000 plus a 20% discount @ .0001 (which know we closed above today) would buy you 120 mil shares. Way over 10% of the O/S.

So my new theory is, it might be impossible to cash in all of those shares. therefore, the "post conversion death spiral" might not be possible. until the PPS rises.

Anyone out there understand my logic?

MC