Bank...What's interesting is that La Jolla can increase their $250K tranches every 30 days starting 91 days out from Feb 2, and can increase it to $500k when the stock trades for 10 days above .09 and for every .02 above that .09 going forward every 30 days another $500K.
Your conversion price is correct at 75% of .35 with a floor minimum of .075.
What is also interesting is they can only hold a cap of 4.99% of the OS shares or now currently 21,150,521 shares maximum or they have to shed all shares over that or not convert.
An interesting handcuff of sorts if the stock is really boogieing. That coupled with the strike restrictions between time and percentages of the debenture make this a most interesting hybrid vehicle of financing.
Remember, WSGI is not obligated to use La Jolla to the extreme of this funding debenture to maturity, and if inertial success generating revenues and profits comes to bear, then a different more mature investment vehicle, if needed, would be likely.
That's what most I speak with opine as the plan.
.27 could happen faster than La Jolla can get in but a toe.
jmo
What's interesting is what I don't see addressed in the plan. What happens if the stock is trading above .35? I don't see any contingency for that on conversion unless I missed it. I don't think if the stock were at .50, C and E would want La Jolla converting at .26.
I think they'd close out the plan.
m
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