Replies to post #5504 on Provision Holding Inc. (fka PVHO)

[tedpeele]

Ok. When you get a chance, or someone else here:

I have just started looking at the financials a bit closer but maybe someone here has already done some homework. I see that they have over $3 million in convertible debt--convertible at .06 and higher. Are these floorless convertibles?

I also see that the warrants can be excercised to provide additional capital. That sounds excellent. I was in a similar company several years ago and was hoping for same but was shocked to discover that the warrents had a cashback (name?) clause and could not be used to fund the company. The company went belly-up.

I am curious about this in the 10K:

"In May 2010, the Company agreed to sell up to 500 shares of Series B Preferred Stock to Socius Capital Group, LLC at a
purchase price of $10,000 per share, for an aggregate purchase price of up to $5,000,000. The Preferred Shares shall, with respect to dividend, rights upon liquidation, winding-up or dissolution, rank senior to the Company’s common stock and any other class or series of preferred stock of the Company unless otherwise noted and junior to the Series A Preferred stock and all existing and future indebtedness of the Corporation."

Anyone here know anything about the Socius Capital Group? http://sociuscapitalgroup.com/about.html They say no shorting or hedging. Sounds good, just wondering if they have a reputation known here?

thanks, Ted