Saturday, December 09, 2017 2:03:41 PM
Your esteemed CEO Steve Berman brilliantly thought up a scheme to save ONCI approximately $900,000. Livingston received a 45% discount to market in return for agreeing to reduce the legacy debt from 1.8M to 900k. On the face of it it seems like a shrewd move. But when you think about it you realize he just DOUBLED THE NUMBER OF SHARES THAT WILL BE ISSUED TO LIVINGSTON in order to get the debt reduced by half. THAT'S A FACT!!
As a result of Steve Berman's scheme, ONCI will now pay approximately 900k, and shareholder's via the 45% discount to market will pay the remaining half of 900k. (LOL this is how your so-called shareholder-friendly CEO treats shareholders. He makes them pay for his debt lolol.)
How is it that shareholders will pay the 900k in debt ... AND NOT ONCI. It's called DILUTION. You're ownership in ONCI is being diluted because Steve Berman chose to use the ONCI stock as an ATM machine to pay-off his company's debt. All the while he was 'enthusiastically announcing deals and holding conference calls' claiming Apple is their main competitor lolol. Because of these sweetheart terms Steve Berman agreed to it will now take that many more 40M tranches of shares to be issued to Livingston to satisfy the total debt.
Furthermore, as the ONCI stock price collapses in upon itself, the number of shares needed to repay the legacy debt will balloon. THAT'S A FACT!! Mary estimated 150 mil. I estimated 200 mil. But it's all contingent on the stock price remaining strong, which it hasn't in the last two weeks. The number of shares which will be issued to Livingston could be much higher than 200 mil and you can thank Steve Berman for that 'lump of coal in your Christmas stocking.
JMO
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