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RAYSTREAM INC Message Board

  • stockexpertpro stockexpertpro Jul 11, 2013 12:37 PM Flag

    Dilution to the tune of 1.5 Billion Shares straight from the 10Q Filing

     

    NOTE 5- CONVERTIBLE DEBT

    In March 2012 the Company entered into two convertible debt agreements with independent investors, one for $1,580,000 of convertible notes payable, bearing 5% interest, along with 3,333,333 warrants to purchase common stock of the Company and another for $525,000 of convertible notes payable, bearing 5% interest, along with 1,111,111 warrants to purchase common stock of the Company. The exercise price for all of the warrants is $0.45 per share. The conversion price of the $1,580,000 convertible note is 70% of the lowest closing price for the twenty (20) trading days prior to the conversion date. The conversion price of the $525,000 convertible note is the lower of $0.40 per share or 70% of the lowest closing price for the twenty (20) trading days prior to the conversion date. Both notes can be converted at any time prior to the maturity date, which is three years from the issuance date, at the sole discretion of the holder.

    Initially $400,000 of the $1,580,000 convertible notes was funded. The funding of the remaining amount is at the sole discretion of the holder. The Company also received $400,000 from the $525,000 convertible note. The remaining funding will be made when the second funding is made from the $1,580,000 convertible notes.

    Do the math take the 1.54 Million divide that by .001 since its 70% Lower then the closing price and yeah buddy that over 1.5 Billion shares thats where all these shares keep coming from up for sale its massive dilution coming is printing shares like CRAZY and dumping them just as fast as they can to BAGHOLDERS

    Sentiment: Strong Sell

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