Wednesday, August 27, 2014 9:34:24 PM
Also, at the current bid price, the conversion(if one were even to take place) has a floor set at .15 cents which currently equates to a 16.6% haircut to market. Because of this, the accredited investors actually have an opportunity to make more money if the stock appreciates as opposed to staying at its current level and much less to none if it were to drop any lower.
Sorry, but terms like these in a convertible note are virtually non-existent and unheard of. That is, unless the accredited investors truly have a reason to believe that this operation will be succesful, and that this stock trades at a much higher price over the next several months.
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