Protagenic Therapeutics Inc. (PTIX)

[smakkdaddy]

Nothing new huh?

"The outstanding principal and accrued interest of each Secured Convertible Note is convertible, subject to a 4.99% Beneficial Ownership Cap (as defined in the Secured Convertible Notes), into shares of the Company's common stock ("Common Stock") at an initial conversion price of $5.00 per share (subject to adjustment), at the option of the respective holders."

I don't know, that sounds like an expectation of $5 per common share by August 31st 2016 to me.

You know, actually now it seems we have a lot to look forward to over the next year since BK is no longer an option for ATRN. They have already filed in the last few of years and can't do so again for a few more years to come.

(You can only file for BK once every seven years or longer)

Too, consider this, regardless of ATRN's need to borrow cash to stay afloat in the now, this also infers that they will be generating some kind of revenue (one way or another) over the next year in order to not only stay afloat, but to also generate enough cash flow to pay their creditors back as well.