Replies to post #2274 on Intellect Neurosciences Inc. (fka ILNS)

[downsideup]

That is WILDLY incorrect...

The filings CLEARLY state "anti-dilution protection"... which means the stated conversion price survives any R/S...

So, after a 1 for 50 reverse, they'll still be converting shares at $0.0025... no doubt with major dumpage ensuing, bringing share prices rapidly back down toward the $0.0025 upper limit.

The other element yours is wildly wrong about is calling $0.0025 a "bottom" for the conversion price, rather than a "cap" for conversion price. The included "anti-dilution protections" protect the note holders from dilution, not shareholders... so they included "ratchet provisions" which mean that as share prices dip below $0.0025, so does the conversion price. Right now... conversions will be occurring at $0.0020, below your fictional "bottom"...