$146,911/308,822 = 47.57 cents per share value.

Those entitled to cash would rather have a share even though the current value for the shares are less. Of course trying to but 300k+ would drive the price above ... but then again isn't cash in the hand better than speculative stock ... I guess in this case the holders of the debt don't think so ... Hmmm ... how would they know and why would they not think they couldn't get those 300k+ shares in the open market for less with the $146,911 in cash if that was how they were paid.

Lot of questions ... sems there can only be one sensible conclusion ... the debtholders no the inherent value of the shares is worth and short and quick gain and perhaps that gain is imminent ... if it wasn't should be able to peck away at the market and win twice.

I know there are some boards where they might say this dilution is bad for shareholders ... but whoever would post such nonsense never has had a clue of what the speak.

Orgy