Post A Reply
my profile
login
|
register
|
search
|
faq
|
forum home
»
Allstocks.com's Bulletin Board
»
Micro Penny Stocks, Penny Stocks $0.10 & Under
»
BLLD (.035) - Falling Fast, Possible Bounce Play soon
» Post A Reply
Post A Reply
Login Name:
Password:
Message Icon:
Message:
HTML is not enabled.
UBB Code™ is enabled.
[QUOTE]Originally posted by Repoman75: [QB] This is the problem: On August 24, 2006, the Company believed that a cash repayment of the principal payment due would not be in the best interest of the Company with respect of continuing operations. As a result, the Company was in default of the terms of the Notes. Rather than placing the Company in default of the Notes, the Note Holders agreed to restructure the terms of the Notes. In connection with the Amendment, the Company will issue to the Note Holders a total of 4,480,000 shares of the Company's registered common stock in satisfaction of the August 24, 2006 principal payment. In addition, the Company will adjust the conversion price of both the Notes and the August 2005 Convertible Notes (the "August Notes") to a price equal to the lesser of (i) $0.05 per share or (ii) 75% of the average of the VWAP for each of the ten (10) trading days immediately prior to the applicable conversion date or principal repayment date. [/QB][/QUOTE]
Instant Graemlins
Instant UBB Code™
What is UBB Code™?
Options
Disable Graemlins in this post.
*** Click here to review this topic. ***
Contact Us
|
Allstocks.com Message Board Home
© 1997 - 2021 Allstocks.com. All rights reserved.
Powered by
Infopop Corporation
UBB.classic™ 6.7.2