JJJ Provided Your Answer
In short:
Ironridge asks company for shares.
Ironridge dumps stock.
Ironridge asks for more shares.
If there are no buyers, then Ironridge can not sell existing shares, nor ask for more. I am assuming a hope of George Alvarez would be to string this along to get enough cash to pay off Ironridge, but we all know that will not be happening.
That is why a deal with the white knight investor was a no-brainer, as it would have stopped dilution. The company would have been less diluted, George Alvarez would have looked like a smart person for once in his existence, and the investors (and all shareholders) would have seen the stock price rise dramatically on a percentage basis.
I do not understand why George ignored this opportunity and I also do not understand why people here who comment are not 1) alarmed by this and 2) why they are not asking these questions.
The most important question to know the answer to (aside from the one I have been asking about the white knight investing group) is how many shares are owed to Ironridge Global.
Anything else George Alvarez spews is meaningless banter, because none of it matters unless Ironridge is gone.
