Put something here
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The new low of 0.0004 triggers note holders to reset their conversions at a lower pps, thus adding another billion or so to the OS
Like I said. It is obvious with no notes this can move well. With any news, those who short need to be concerned
No notes. So any income is going to show an instant effect
Not credible... sorry
Assuming for a moment Matt has not taken out any more notes (likely he has), the $1 million of notes would convert to 3 billion shares at this point. A lot to buy up.
Remember something else. The defendants may say they know what happened last week.
No one here knows anything.
It’s so easy. May, then RICO.
Peace out!
First step, the lawsuit which will clearly formally document the fraud. Second step RICO! Hello defendants, it’s coming
The defendants are purposely trying to mislead,
“What does it mean to “disregard the corporate entity in order to avoid a duty?” This is where the Washington case law gets a little fuzzy. Generally, the entities have to be some part of a fraud. What exactly constitutes a fraud in this context is not entirely clear. One general definition of fraud is “wrongful deception intended to result in financial gain.””
Thus the inevitable RICO. Like many have said, the defendants will try and manipulate. You can clearly see it here
Again, ignore the defendant claiming any of that BS. Contingent liability travels with the purchaser. It isn’t just forgiven. The parent will have to pony up the dough for the inevitable loss. To me, The defendants are doing their best to lie
Anyone who says that the parent company isn’t liable doesn’t understand how law works. The contingent liability travels with the purchaser, which is why it is listed in docs. Ignore the noise. The defendants don’t know what they are talking about
It’s all that needs to be said. The liabilities go with the corporation. This is a contingent liability that both Proximex and JCI need to address.
Nicely said! Not hard to put facts out to fix the defendants
Opinions are like “”, everyone has one.
Wait to see in May as there will be a trial.
Enjoy! Or not. Who cares
Much better
No one here has any clue what happened or didn’t happen with any or no discussions.
The only thing that matters is the May trial. Enjoy!
Notes can now reset at 70% of 0.0005 or 0.00035 which add hundreds of millions of shares to the OS.
Looks like someone is shorting this FYI...
With the pps hitting 0.0006 today, the count now resets back to 0 for noteholders. They can continue to convert at a % of 0.0006 for the foreseeable future
Innd finally downgraded to pink.
Of course there is no answer. The only thing the defendants can do is say something childish like “ nah ha, you owe me money”.
Expect that to happen
There is likely no shorting occurring. Massive conversions however are likely. Proof is in the doubling of the OS.
As I said well over a month ago, AS is 15 billion.
Lowest conversion price is 70% of 0.0006 or 0.00042.
Any new note with conversions coming due would have hundreds of millions to convert
EOM.
For those who don’t understand how it works, it is SECI who is suing these companies. Not Pericles. The beneficiary of the decision is SECI. Sheesh..
Well, it would actually be a valuation based on 15 million shares at $40 (rough current pps of JCI). So $600 million.
Essentially it would be an all share deal. So whomever owns shares of SECI would get a fraction of those 15 million shares.
Easiest way to make it all go away.
I have a copy of the claim. There is some strong evidence, and it will be very difficult for Proximex/ADT/JCI to lie through it.
The easiest and safest path for them would be just to buy up SECI for 10-15 million shares and be done with it.
Yep! Maybe JCI can make this go away by giving SECI 15,000,000 shares of JCI to buy out SECI and avoid RICO when they lose the case in May?
15,000,000 shares at $40
Well said. Proximex, and by extension Johnson Controls have some ‘splaining to do
Nicely put!
Conversions still happening at 70% of 52 week low
Thanks. That is a good idea!
Bang on again. It’s almost like the facts and reality can’t be manipulated here. Seci
Exactly, it is just a random opinion.
Exactly. It’s all good. Just wait it out
I don’t know either way, however their spend is vastly greater than their income, which means to me they probably didn’t pay it back.
If a company doesn’t pay back a convertible note in a pre defined period (including interest), then within a given period the noteholders May convert the remaining debt into shares of the company. The conversion price is usually substantially lower than the current pps because it gives the option to the noteholders to immediately sell their stock at a higher price and pocket the difference. There is a whole calculation for this.
Note holders can convert at 70% of 0.0006, or 0.00042. At 0.0008 they still are making a healthy gap.
After the pump, notes continue to convert. It is fairly obvious right now.
Noteholders can convert at 70% of 0.0006 (lowest pps within 22 days), meaning billions of new shares
Tim-berrrrre
Did and profited. Thanks!
Matt just admitted indirectly the AS is higher than stated in OTC markets. It is actually 15 billion and noteholders can convert lower than the current pps.