Also read this from the 9/22/06 6-K : On September 22, 2006, Futuremedia PLC (the “Company”) announced approval by its Board of Directors to unconditionally reduce (i) the $0.70 per share exercise price of its 250,000 ADS warrant (the “ 250,000 ADS Warrant) issued to Cornell Capital Partners, LP (“Cornell”) in connection with the Company’s December 19, 2005 $2.5 million financing with Cornell (the “$2.5 Million Financing”); (ii) the $0.20 per share exercise price of its 4,000,000 ADSs warrant (the “4,000,000 ADS Warrant) issued to Cornell in connection with the Company’s August 3, 2006 $9 million financing with Cornell, Certain Wealth, Ltd. and TAIB Bank, B.S.C. (the $9 Million Financing”); and (iii) the $.70 per share exercise price of its 750,000 ADSs warrant (the “750,000 ADS Warrant”) issued to Cornell in connection with the $9 Million Financing. The 250,000 ADS Warrant, the 4,000,000 ADS Warrant and the 750,000 ADS Warrant are collectively referred to as the “Warrants.” The exercise price of the Warrants will be unconditionally reduced to $0.095 beginning on September 22, 2006. The Company will receive net proceeds of approximately $475,000 assuming all of the Warrants are exercised.
Cornell is terrible. Sometimes they run a handfull of their stocks at once and dump on buyers. Generally they just sell the hell out of them.
Do your own DD. My posts are my own opinion other than those that are SEC filings found on the EDGAR website. Quit ripping my pages tyia it's cool to be original.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.