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kittystwigster

06/09/11 4:18 PM

#527 RE: IRBeach #526

Thanks, Beach

This represents a Conversion and sale of approx 1/4 of the Debentures. These 9.5M shares were sold; the status of the remaining 30M+ shares from these Debentures is not reflected. I assume that since the Debenture obligations themselves as an instrument have no expiration date, that they have yet to be Converted and that is why there is no exercise record yet.

So, as to just the Debentures: 10 Mil down, and AT LEAST 30 Mil to go.

I'd REALLY like to know for certain if the Debentures did have "Pricing Reset" provisions built into them; the odds are high that they did. Because if so, those "30 mil to go" could easily be 300 mil to go instead.

Any chance you can pull up and post the Debenture documents themselves ?

This gal doesn't have the ability.

Thank you for the filing

Kitty