the convertible notes will either be converted into shares @ 25 cents per share or they will be paid out in due time by Norton.
As a shareholder I would like to see most of them paid out over the next 2 years.But if the stock price is north of say 0.30 cents you will get investors converting their notes and selling into the market!
Norton should produce well over the next 4 quarters to earn good cash flow and most likely if all goes well- have well over $100,000,000.00 cash in the bank -estimate by March 2010
With their projected production increase into 2010 and beyond this stock is still undervalued at 0.225 cents - there is MORE upside to the share price atm - very little downside risk- my guess by July it will be sitting at well over 0.50 cents! also there is about $15,000,000 options when exercised that should come in over the 18 months.
Norton is well managed and well funded - earning good cash each month - earning about 6 cents a share in free cash flow each quarter- with cash flow you can do a lot with these days especially when it is hard to come by!
As for the hedge - I guess that will be sorted out in due time - but Lehmans is well and truely DEAD and will most likely take years before it is buried.
NGF Price at posting:
22.5¢ Sentiment: LT Buy Disclosure: Held
