Would like opinions on best estimate of shares outstanding after we get through these conversions:
As I understand (please correct where I am wrong):
We have approx 6.5 million outstanding prior to $ 4.5 convert note (assume this all converts at $1.00 per share) + $1.5 million new convert note (assume this all converts at $1.00 per share) = we are looking at approx 12 million shares outstanding when all said and done. Not terrible assuming this gets us to a profitable showcase in woodbridge?
We would be happy if they survive ending up with 30 million O/S. But based on our experience and current conditions, we give a good chance to reach a range between 30 - 50 million O/S.
It is really not a good time to ignore reality. PPS in a toilet bowl, TOXIC financing round their neck. Wheather you like it or not. IMHO, nowadays O/S is at second importance. Obviously, it is "DEADorALIVE" question that must be answered first. At least this is what the market has been saying to us for months ... We are not joking now. This company is NO MORE low floater. Do not let you confused by a paper figures - this kind of assessment only works when the goals are met. Not our case unfortunately. Get used to it.