Ann: Trading Halt , page-13

Nose,

I agree that it will be a scrip offer - they are short enough on cash without spending it all buying back the notes.

I would think they have already discussed the terms with the major noteholders.

The question is the conversion ratio. 2:1 would be a joke - I will wait for the 10 cents in interest and take my chances in 18 months. 3:1 would be a minimum, 4:1 would be nice.

I don't think the ABN report a week or two ago was a coincidence - with a value of 30 cents - could coincidentally give 3 shares in exchange for 95c of debt - they would sell it as 1:1 debt for equity swap.

Hold AXOG

All speculation. DYOR