Basically 6 months (12 if they file for extension) to pay back a 5 million loan. They haven't generated that kind of profit in their time in business, so that means basically it is a convertible. Which we almost already knew that.
But here is where the kicker comes in:
So basically they do not have to register the shares they receive and just start placing them on the open market.
Granted I have still yet to do the math on what they would need the pps to be to make a profit factoring in an 85% conversion rate as well as the 12% interest rate.
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