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IGAI>>>> wORTH WATCHING
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[QUOTE]Originally posted by cool running: [QB] Not sure if this applies, but found it on their Form 8-K for IGIA, INC. 28-Dec-2005 The Notes bear interest at 8%, mature three years from the date of issuance, and are convertible into our common stock, at the Investors' option, at a conversion price equal to the lower of (i) $0.04 or (ii) 50% of the average of the three lowest intraday trading prices for our common stock during the 20 trading days before, but not including, the conversion date. As of December 22, 2005, the average of the three lowest intraday trading prices for our common stock during the preceding 20 trading days as reported on the Over-The-Counter Bulletin Board was $.08 and, therefore, the conversion price for the secured convertible notes was $.04. Based on this conversion price, the $3,000,000 Notes, excluding interest, were convertible into 150,000,000 shares of our common stock. [/QB][/QUOTE]
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