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Amarantus Bioscience Holdings, Inc Message Board

  • jfjf666 jfjf666 Feb 10, 2013 10:27 AM Flag

    Company Selling Shares for .015 - Why Pay More?

    Management values the company's shares at .015. Some recent buyers have lost almost 65% of their investment and now the company announces that it sold 25,000,000 shares at .015 which was almost an 85% discount from Friday's price.

    The 25,000,000 shares should be in Dominion Capital's possession this week.

    The dilution continues. :(

    1,000,000,000 shares is a lot of shares.


    From the 8-K filing filed on February 7:

    On February 7th, 2013, the Company completed a series of transactions related to the restructuring of certain convertible debentures and related warrants that are currently in default. As a result, the Company executed two separate amended and restated Convertible Promissory Notes in the amounts of $375,000 and $187,500 (the “New Notes”), respectively, payable to Dominion Capital, LLC. The Company had defaulted on Promissory Notes issued in 2011 to certain individual investors in the total aggregate amount of $375,000 (the “Old Notes”), and related cashless warrants in the amount of $500,000. Dominion capital paid $562,500 to acquire the Old Notes, and as part of the transaction all of the related warrants have been retired, inclusive of a $37,500 payment from the Company to certain warrant holders. The Old Notes and Related warrants had a conversion feature equal to a 66.6% floorless discount to a ‘Next Equity Financing’, defined as a financing where equity, or debt that was convertible into common stock, with a fixed price conversion feature. As a result of the 30 January financing previously announced, the Old Notes and Warrants, inclusive of interest, would have been convertible into approximately $900,000 in common shares priced at $0.0333/share, which would have equated to 27,000,000 common shares.

    As a result, of the transactions listed above, $375,000 note is immediately convertible at a price of $0.015/share, equal to 25,000,000 common shares. The $187,500 is also priced at $0.015/share, however the note is not convertible for 6 months and the Company can repurchase this note at any time until maturity.

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