This is not from the 10q. It is from one of their amended filings they just filed. To correct their "errors" in reporting.
"In August 2015 the Company entered into convertible notes without conversion floors resulting in an unlimited potential of shares to be issued...."
"On August 13, 2015 and August 26, 2015, the fixed conversion floors of the Redwood and Typenex notes, respectively, were removed creating a potentially unlimited number of shares to be issued..."
These ones arent even the ones that the lawsuits are about.
This is from the 10q. - "Based on management’s evaluation, our chief executive officer and chief financial officer concluded that, as of March 31, 2016, we have a material weakness with regards to our disclosure controls and procedures..."
You think?
All opinions are mine alone.
