I did notice "The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of providing for the exercise of the Warrant or the delivery of shares in full or partial satisfaction of the Drinks Debenture, fifty million (50,000,000) shares of Common Stock in the event the Investor exercises the Warrant and/or requests the Drinks Debenture be satisfied by the issuance and delivery of Common Stock."
It appears that the repayment could be in stock at "the lower of: (i) the closing price of the Company’s common stock on the OTC Bulletin Board for the prior business day; or (ii) the volume weighted average sales prices of the Company’s common stock on such market for the prior ten (10) business days, in each case as recorded by Bloomberg, L.P."
I don't believe it guarantees dilution, but it could cause it. I think this provision causes some minor dilution - " In order to secure an amendment to the documents we executed in connection with our Private Placement of our Series A Convertible Preferred Stock on December 18, 2007 (the “December Offering”), which may have been required for us to consummate the transaction which is the subject of this report, we issued an aggregate of 4,617,250 shares of our common stock to the five investors who participated in our December Offering in cancelation and exchange for 461.73 shares ($461,725 issue price) of our outstanding Series A Convertible Preferred Stock. "
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