Golden Global Corp. (fka GLDG)

[xZx]

any funds generated from these shares was spent months ago.

http://ih.advfn.com/p.php?pid=nmona&article=67740517

lenders loan money to a company first, then they are issued shares in lieu of that cash for payments on the debt.

that's why it's called convertible debt.

the payment amount (in equity) is calculated according to terms listed in filings, usually at a steep discount to the current pps, and below retail's cost basis, which allows shares to be dumped by the financing company for a profit.

again, shares aren't issued until months after a loan is first funded, so it's not as if current selling in the market represents new $ for any current expenses.