A lot of what can happen is going to come down to how those convertible notes are worded. The folks that hand out that sort of money dont take getting re-inbursed lightly.
Think about what they get in a conversion. Say I lend you $10,000 and in turn you are going to give me stock at a discount of 45% to the closing bid of your company.
That $10,000 comes due and I say give me my shares. At a PPS of 0001 that means I get $10,000 worth of shares at .000055, or 181.8 millions shares. Multiply the 181.8 by .0001, Its $18000 without including interest.
Imagine how much is being doled out when the convertible note balances are approximately $1 million as they are here at FPFI.
Borrow $1 million, hand out $1.55 million or so in shares and let the players in the market pay it off for you. What a way to make a living.
FPFI is borderline toast and the flames are getting hotter with every passing day and with the addition of every converitble note. I have to believe the risk is getting high enough that even the toxic lenders are going to start saying no thanks.
Without a bid, they dont have a channel to sell their shares. Its out only method to get the attention of the FPFI folks. Stay off the bid and let the notes come due in September without a bid to sell too.