Replies to post #38445 on All American Pet Company Inc (AAPT)

[Alydyr]

In exchange for the $1 MILLION Barry/Lisa receive the equivalent in common shares at .0022/share. That comes to approximately 454 MILLION AAPT shares.

What is the current market price?

Feel free to hope/pray otherwise, but there is a REASON for low relative volume and SHARP declines in share price. Happened last week, and again today.

I believe the grid note is being converted NOW.

Feel free to provide your own theory. I would NOT want to be a shareholder right now.

Good luck!

[cracity]

Let me try and explain what I read:

CENTURY CITY, CA--(Marketwire -03/08/12)- All American Pet Company, Inc. (OTCQB: AAPT.PK - News) (Pinksheets: AAPT.PK - News) today welcomes the announcement by Lisa Bershan & Barry Schwartz (the "Founders) that in order to strengthen the Company's financial position, they have executed a US$1 million convertible revolving promissory note (the "Note") with the Company. The Note will accrue interest at a fixed rate equal to Ten (10%) percent per annum, and may be converted into the Company's common stock at today's fair market value, at any time before March 6, 2013, at the lender's option. Proceeds from the Note will be used for general working capital.

Yes, the note is a revolving credit facility up to one million $. The proceeds from the note will be used for general working capital.

The note can be converted to common stock. It says nothing of the proceeds from the stock being used for working capital. The proceeds from the stock will go to the lenders (founders) is how I read it.

You or I one have a reading comprehension problem I believe, and my scenario seems more likely.