Manzo Pharmaceuticals Inc. (MNZO)

[investor_61]

The debt in question came with the FOGC shell. It was not debt that Manzo accrued during the normal course of doing business. As such, there was probably some type of agreement attached to it that allowed MMG to convert that debt to shares whenever they wanted to. It's a good thing it's gone but the note holders received $700,000 worth of shares, NOT 700,000 shares. That's 700 MILLION shares!