RE:question for the board1 share for $0.45, you only get the 10% if you don't convert your units into shares. 1 warrant exerciseable at $0.65. And yes, you could sell your warrant averaging around $0.22 today, to reduce your contributed debenture capital by ~50%. The greater the warrant volume, the less likely holders of warrants believe in their worth, and subsequently, the success of the company.
JungleJulie wrote: what was the reason the debentures where extended , was that to make sure the warrants could trade ? nice get , 1 share and 1 warrant for .45 with 10% . this move allows people to get .20 of the .45 back while mantaining the 10% interest paid in .45 shares (kinda like a warrant which could be sold into the market at market price and effectivly raising the 10% paid ) so you double the interest rate by paying .25 for the share that pay 10% of .45 cents..
the difference is this time the company will be on the hook for 10 % for years on the full 17 mil instead of people selling shares to pay for the debentures and holding the warrants reducing the debenture size.
a bit of rambling but WTF , makin money off of the share holders , Now I get it .....