Replies to post #7119 on American Petro-Hunter, Inc. (fka AAPH)

[Murdoc]

yeah, so buy tomorrow, good entry now imo

[TOB]

No sense paying more than 0.008 for AAPH

That is the price of the convertibles from the Hanover LLC Toxic Financing that AAPH just sold. The market generally comes down to the price of such Toxic Financing.

Unfortunately for long suffering AAPH shareholders, AAPH's sole employee Bob is now engaging in Death Spiral Convertible Financing with JMJ Financial. As these Floorless Convertibles have no base price and are always 60% below the lowest trade price in any 25 day period, this means even 0.008 is no longer support.

Pg 16 of the latest AAPH 10-Q

In June of 2013, the Company amended its agreement with JMJ Financial to change the conversion price to be the lesser of $0.01 or 60% of the lowest trade price in the 25 trading days previous to the conversion. As of June 30, 2013, the note balance on this note is $75,000 and no interest had been accrued.

Classic Floor-less Convertibles. No matter how low the AAPH share price falls sub-penny, JMJ just gets a larger quantity of shares at a 60% discount for the lowest AAPH price for the prior month.

The first round of Toxic Financing saw AAPH crash from over $1 to sub-penny and all directors and officers resign, except for sole AAPH employee Bob who's lousy management is driving AAPH into the ground. And no, AAPH is not drilling in the dirt, they have no money for that, rather it is the AAPH share price being sunk below sea level.

This new event signals even worse days ahead for any AAPH shareholder who is still a bagholder, or bought AAPH due to the fluff PR hype by AAPH. The Death Spiral is appropriately named.