Big question here is then, if the note holders got shares then shouldn't the debt be paid off? Here is another thing to consider, BD does not own all the debt. IT is also held by some other companies.
Since the close of business on December 27, 2011, the Company has issued an aggregate of 68,935,900 shares of its common stock to certain Buyers to partially pay down their Notes.
"b" warrants: If we make certain dilutive issuances (with limited exceptions), the exercise price of the Series B Warrants will be lowered to the per share price paid in the applicable dilutive issuance. The number of shares underlying the Series B Warrants will adjust whenever the exercise price adjusts, such that at all times the aggregate exercise price of the Series B Warrants will be $2,936,824.
"a" & "c" warrants: If we make certain dilutive issuances (with limited exceptions), the exercise price of the Series A and Series C Warrants will be lowered to the per share price paid in the applicable dilutive issuance. The number of shares underlying the Series A Warrants and the Series C Warrants will adjust whenever the exercise price adjusts, such that at all times the aggregate exercise price of the Series A Warrants and Series C Warrants will be $5,813,502 and $2,828,070, respectively.
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