This is serious accumulation and holding price down until it is done. It will skyrocket once this phase passes. I'm looking for an uptick in a major way any time now.
One thing is puzzling when it comes to volume as of late and that is according to amendment below they reduced the Price Failure (as defined below) threshold from $1.40 to $0.60.
I assumed this meant that the note holders would need to refrain from converting if price went below 60 cents which if that is correct would mean the dilution is on hold and price spiral since .60 is from share holders dumping due to programmed stop loss orers and shorts who see this pig going down further. Even ATX30 who married PE for the $ along with the rest of the sheeple on here predicts .10 cents before dust settles. Is there another possible hidden meaning to ".60 cent price failure" that no one seems to understand or are note holders ignoring that clause ?
As a result of the Exchange, the terms of the Exchange Notes have been amended to, among other things, (i) extend the maturity date of the Exchange Notes by three months from February 6, 2012 to May 6, 2012, (ii) allow each of the Investors, at the option of each such Investor, to convert the Exchange Notes, in whole or in part, on any trading day as elected by such Investor, in its sole discretion, (not to exceed fifteen trading days in the aggregate) at a conversion price equal to a percentage established individually for each Investor (85% for some Investors and 90% for other Investors) of the closing bid price of the Company's common stock on the trading date prior to the conversion date and (iii) reduce the Price Failure (as defined below) threshold from $1.40 to $0.60. The Exchange Notes are otherwise identical in all material respects to the Existing Notes. The Exchange Notes account for the 1-for-7 reverse stock split of the Common Stock that became effective on June 8, 2011.
Also you should stop backpedaling. We went from 19m-25m. Sept is paid in cash. These are all facts. You sound desperate or something. Weird. You should be happy if you are shorting. Are you mad that these facts might make people think before they sell?
I agree with the statement this will skyrocket once this passes but I think we do have a little bit longer to wait. These low prices are a little scary- with the noteholders still sitting on millions that need to be converted (maybe 12-14 million?) I just wonder how low this thing could really go. The CEO was ridiculous to say that he objected to this being called a death spiral during the QA section of the last call. It is exactly what it is (http://en.wikipedia.org/wiki/Death_spiral_financing ). Just taking advantage of the situation because I do believe once this insane shorting/ conversion nightmare is over it will be a new day for this stock. Question is do we stop at 30 cents or 10 cents? No one thought we could be here at this current level 36 cents a share? Really? I certainly did not a few months ago- not in my wildest dreams. But here we are. Is 10 cents possible? Starting to slowly load up.
Nice try trying to back peddle ....CEO said as of day of CC it as 3 mil dilution bringing share count up to 19 mil with 20 mil to go. Your post previously stated 6 mil only as if dilution was only 6 mil total and according to IR they are going to payoff rest in cash...time will tell if they actually can afford to as that would be $14 mil they will need to pony up and they neded $213 mil last qrt to poduce $214 mil in revs so where is that $14 mil going to come from ...operatingcash flow or ?? ...Call IR you say ??IR evidently has no idea why stock is at .36 cents since earnings and I am going to call him for his take on things ? HAR HAR Matey ! You and your hypster buddies and PE management remind me of the titanic which was thought to be unsinkable ....difference is PE is a row boat in choppy shark infested waters
half full of water with IR telling you sheeple everything is under control...a complete joke !
You are a joke. When did the earnings report end? OK. now think about ....since June it sent from 19-25 which makes sense sinch that was for the convertible notes now being paid in cash for sept. That means two months more of dilution...July and August....
Call IR for yourself, not that you are interested in the truth...moron
Yes the CEO and IR are just lying and they are secretly diluting because they would like to go to jail.
Just because you have no morals and thics doesn't mean they do to. Typical basher logic. I am a dirtbag, therefore they must be too