GREY:ADEXF - Post by User
Comment by
terarmon Mar 10, 2014 9:02pm
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Post# 22305609
RE:RE:XinXing gives 1 year extension on convertibles
RE:RE:XinXing gives 1 year extension on convertiblesJust a couple of additional factors at play, maybe: the Mar. 2/12 agreement on this debenture requires a minimum $.45 conversion price, and so I can understand why XinXing isn't too keen on that. The amended agreement requires a minimum conversion price of only $.10. It seems that conversions will also be limited by the proviso that XinXing's share of the company stay below 19.9%.
As you mentioned, crazyanalyst, there is another convertible debenture maturing this year, on Nov. 5 (see Nov. 2/12 release). This one has a minimum conversion price of $.25, although there are also options to convert into shares of a Tuktu joint venture.