posted
im worried. can it go higher? im VERY new to this and on this stock today i made more then i did at my job in the last 2 weeks. any advise?
Posts: 75 | From: CT | Registered: Oct 2006
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Press Release Source: GVI Security Solutions, Inc.
GVI Security Solutions, Inc. Restructures Debt Monday October 9, 12:35 pm ET
CARROLLTON, Texas--(BUSINESS WIRE)--GVI Security Solutions, Inc. (OTCBB:GVIS - News), a leading provider of video security solutions featuring the complete Samsung Electronics line of products, today announced it had entered into agreements with Laurus Master Fund Ltd. to extend the repayment period of its term and revolving loans to December 31, 2007.
On October 4, 2006, GVI completed a $4.75 million private placement on terms previously announced. A final closing of a $250,000 investment on October 6, 2006 resulted in total gross proceeds from the private placement of $5.0 million.
In connection with the private placement, GVI entered into an Omnibus Amendment and Consent with Laurus, GVI's senior secured lender, pursuant to which Laurus consented to the issuance of the Convertible Notes in the private placement and agreed to amendments to GVI's loan agreements with Laurus under which:
Laurus's ability to convert GVI's debt into Common Stock has been eliminated;
The maturity date of all Laurus loans has been extended from May 24, 2007 until December 31, 2007;
All prepayment penalties have been eliminated;
Monthly principal payments of $152,083 each will be due under the Term Loan for the months of January 2007 through December 2007.
"Laurus has been a cooperative lender and partner while GVI has worked through its liquidity issues over the recent past and has stepped up once again by working with us to complete this funding. We can now focus on completing the turnaround of GVI and growing our core business," said Joe Restivo, CFO of GVI.
About GVI Security Solutions, Inc.
GVI Security Solutions Inc. is a leading provider of video surveillance security solutions to the homeland security, institutional and commercial market segments.
Posts: 4071 | Registered: Dec 2005
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posted
Wagerboy, MMs are market makers who set the price on pink sheet stocks. I get this info on L2s which shows every trade coming in.
Posts: 2309 | From: Minnesota | Registered: Feb 2006
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posted
I get my L2s through power etrade. You get them for free if you make 30 trades per quarter. Check with your broker and ask about L2s.
Posts: 2309 | From: Minnesota | Registered: Feb 2006
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The securities sold in the offering consisted of Common Stock at a price of $.004 per share and 6% Convertible Promissory Notes convertible into Common Stock at a conversion price of $.004 per share. Upon the anticipated final closing of an additional $250,000 investment, the Company will have issued 125,000,000 shares of Common Stock and $4,500,000 of Convertible Notes convertible into 1,125,000,000 shares of Common Stock.....
before RS there are these 125m to be sold
Posts: 1442 | From: Lugano - Switzerland | Registered: Sep 2003
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