OTCPK:ERILF - Post by User
Comment by
MadClownon Mar 17, 2011 3:58pm
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Post# 18300735
RE: .065 consolidation in April
RE: .065 consolidation in AprilThis killed it and likely now will tank until the consolidation is over which usually leads to tanking again. I got out @ 9 but looking at the way it closed I think people will stay away from buying. I will buy @ 5 if it gets there.
It will go down tomorrow so watch daytraders.
Convertible Debentures - The Company also placed $660,000 principal amount of the 10.00% Secured
Subordinated Convertible Debentures. The Debentures have an annual coupon of 10% and a term of 5
years. The Debentures will initially be convertible at
.10 per common share, however, in the event the
Company obtains shareholder approval for a share consolidation, the conversion price can be lowered to
.065 on a pre-consolidation basis. The Company is planning to seek approval for the consolidation at
the next shareholder meeting scheduled for the Spring of 2011. The Debentures and Common Shares
issuable upon conversion of the Debentures are subject to a four month hold period.