Blue Biofuels Inc (BIOF)

[LTE]

10-Q - Toxic Financing.

It looks like JMJ got 2.865 million shares at 15 cents per share.
Why aren't shareholders upset about this type of cheap dilution?
It's probably because nobody knows unless they take a look at
ALLM's SEC filings. And how many shareholders do that?

<<In October 2016, JMJ Financial converted $402,750 of its convertible 
debenture into 2,685,000 shares of Company common stock, however the 
restrictive Legend remained. 

In addition, JMJ Financial also exercised warrants to purchase 20,000 
shares of common stock for aggregate proceeds of $3,675. Under the 
terms of the warrant agreement, the rights to purchase common stock were 
increased to 2,763,273 shares with a 5year term and exercise price 
of $0.15. The Company disputes the validity of these transactions 
based on an agreed upon amendment to the Stock Purchase Agreement 
that no conversion was to occur within the first 180 days. The Company and JMJ are currently negotiating to resolve this 
matter.>>

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=11691251

As far as the "restrictive legend" goes. That deserves more
explanation. But whose to say that JMJ even believes that
it's at all enforceable?