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Message: Convertible Notes

The 3.6 million shares have all been sold.....With respect to the 40,000 note that was due on May 23 and the other 40,000 note that is due on June 23: Both notes were issued to the same investor. Although CardioGenics is currently negociating with the investor it appears to me that there are only three outcomes: One-- The investor agrees to accept additional money and extends the time period; Two-- The investor wants the shares now and the Company issues 5-6 million additional shares; Three-- CardioGenics defaults and the investor sues...Obviously the first alternative is the best and IMO, the second alternative is the worst.


Jun 15, 2015 04:20PM
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