Converted Organics
Marketing Program Underway to Promote Converted Organics' Fertilizer During Spring Growing Season
Wednesday April 22, 2009, 9:42 am EDT
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LETS GO !
Converted Organics Debenture Note Holder Converts Remaining Debt Position to Common Stock
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN) announced today that Professional Offshore Opportunity Fund, Ltd., the largest holder of Converted Organics’ secured convertible debenture note, converted its outstanding debt position into shares of Converted Organics common stock. The final transaction took place on April 23, 2009.
“Converted Organics is very pleased that all but a minor portion of the debt has been eliminated,” said Edward J. Gildea, President of Converted Organics. “We remain optimistic about the immediate and long-term future of the Company, and continue to focus on maximizing fertilizer production, closing sales, and effectively managing expenses. The remaining principal on the secured convertible debenture note, held by High Capital Funding, LLC, is approximately $85,000.”
The Company also announced today that a special meeting of Converted Organics shareholders, scheduled to be held on April 23, 2009 to approve a new financing proposal, was cancelled due to lack of a voting quorum.
“The lack of a quorum at the special meeting of shareholders caused the meeting to be cancelled. However, the Company has identified alternate sources of financing that we consider to be superior to the option that was to be approved,” added Mr. Gildea. “We look forward to sharing details about this new arrangement with our shareholders as they become finalized.”
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Converted Organics Inc. (MM) (NASDAQ:COIN)
Last Price (USD) $ 0.9189
Change ▲ 0.139 (17.82%)
Bid 0.919
Ask 0.919
Volume 1,774,410
Day's Range 0.79 - 0.968
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Posted by: TheInvisibleHand ™ Date: Friday, April 24, 2009 6:48:14 PM
In reply to: langlui who wrote msg# 11713 Post # of 11718
Its scheduled for next year I believe when the stock price is much higher new financeers away from toxic financeers.
so its a good move, since parties involved will want a much higher sp. Now this doesn't mean anything yet, its just giving them the option. Like stated before as long as the Os for coin is under 30 mil currently around 14 mil now it wont hinder much if they keep selling and expand. Keep in mind still a relatively new company.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37311617
http://stockcharts.com/c-sc/...27183142720&a=166250748&r=7490
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Converted Organics’ Fertilizer Products Available at Six New Retail Outlets
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April 28, 2009 09:00 AM Eastern Daylight Time
Final Portion of Converted Organics Debenture Note Converted to Common Stock
BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN) announced today that the remaining principal on its secured convertible debenture note was converted into shares of Converted Organics common stock by note holder High Capital Funding, LLC.
“We are very pleased, for both the Company and our shareholders, that this entire debt has now been eliminated,” said Edward J. Gildea, President of Converted Organics. “Today marks a fresh start for our Company, and we will continue to provide shareholders and the public with updates on our growth and development.”
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erst wenn ich verkauft habe, grinse ich
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