Embarr Downs, Inc. (EMBR)

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Let's begin to discuss selling a toxic convertible note from Kurt Kramer, discounting it 55% expense the discount from fair market valuation on the P&L, pay out a dividend to the shareholders that is taxable as income.

The cost of the dividend is expensive. The loss associated with the conversion plus the tax on the shareholder, nothing like a double hit.

Why pay the dividend? And borrow deep discounted toxic death spiral financing.

Why?

How absolutely ingenious. Did Mr. Wade learn this in his finance class at the University of Stupidity?