However, the creditors still get the short end of the financial stick:
the face value of the common stock to be received will almost certainly be less than the face value of the original debt.
estimate
of annual income from a specific security position over the next rolling 12 months; calculated for U.S. government, corporate, and municipal bonds, and CDs by multiplying the coupon rate by the
face value of the security; calculated for
common stocks (including ADRs and REITs) and mutual funds using an Indicated Annual Dividend (IAD); calculated for fixed rate bonds (including treasury, agency, GSE, corporate, and municipal bonds), CDs,
common stocks, ADRs, REITs, and mutual funds when available; not calculated for preferred
stocks, ETFs, ETNs, UITs, international
stocks, closed - end funds, and certain types
of bonds
Convertible notes with a
face value of $ 711,500 and accrued interest
of $ 19,588 were converted into 412,286 shares
of our
common stock on March 30, 2011.