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kittystwigster

06/10/11 11:09 AM

#537 RE: IRBeach #535

Thanks. Of course, the Options are an entirely different matter, our focus on trying to unravel the Warrants only.

OK, so only SOME of the Debentures have been converted, you guesstimate that approx 75% of the 12/17/2007s have been Converted at .01; leaving $500-600 worth remaining.

Pull up a 3 year trading chart, if the Debenture holders Converted at .01 and sold at any time prior to Aug 2010, they very likely did not sell at a loss.

I do not understand your thinking where you write that 1.2M more in Financing has been done "so as to avoid the reset". No debenture buyer would purchase a new Tranche so as to avoid a Reset on any preexisting Debenture; nor would any new Debenture buyer step in to buy because they would then be vulnerable to intentional efforts by the earlier and preexisting Debenture buyers to pressure the stock lower so as to create Reset pricings on the debentures they already hold.

Thanks

kitty