VentriPoint Diagnostics Ltd.VPT - TSX Venture
Shares issued: - 102.6 million
Fully diluted: - 134.0 million
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Today, the company and the holders of a debenture that was due for repayment in early 2012 decided to make an exchange. The debenture holders have agreed to convert their notes into more stock in the company. In earlier days when capital was very difficult to source, these supporters provided the company with much needed capital. The debenture holders are converting $594,637 into 3,648,078 shares at an average price of $0.163/share. This is a discount to the market, however this is done without fees or legal cost, and by doing this it says to the market that they clearly see the potential of the company.
Dr. Adams, VentriPoint President and CEO commented on today’s announcement and the cleaning up of the balance sheet, “we are thankful that long term stakeholders provide continued support.”
As of the writing of this commentary, Dr George Adams is in Budapest, Hungary at EUROECHO, the annual meeting of the European Association of Echocardiography. He says that Dr. Luc Mertens, Echocardiography Cardiology Section Head at The Hospital for Sick Children (SickKids) in Toronto, gave a talk at the conference about VMS™ to a pulmonary hypertension audience and the result has been overwhelming at the VentriPoint booth. Of interest Dr. Mertens is also a Board Member of the European Association of Echocardiography.
Today is a good day for VentriPoint and its shareholders.
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