The debt holder is playing nice which certainly helps. To many of these plays you never know when that debt Axe is going to drop.
And for that lad that stated "30 percent discount to market" what the hell is this below?
The new agreement is extended until October 15, 2017.
Golden State is entitled to convert up to 9.99% of the common stock at a
rate equal to 80% of the average 3 lowest volume weighted prices in the
previous 10 days. Depending on the stock price this debenture could add
well over 100,000,000 shares to the outstanding or more. These
conversions are based on a discount to market so if the stock price goes
up the number of shares issued will go down and if the stock price goes
down the number of shares will increase. Golden State has cooperated
with the company to avoid any massive dilution or cause a significant
price drop in the past but there are no guarantees or specific plans for the
timing of these conversions. It is in their best interest of both partied to
help the company maintain a solid stock price but it is a subjective
decision based on updated facts and circumstances as the market
conditions and company's fundamentals change.
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