ECGI Holdings Inc (ECGI)

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Is it called death spiral financing:

Post-money US$20 million on a fully diluted basis. There are currently 92 million shares outstanding and 5,000,000 shares issuable upon exercise of outstanding options, warrants and convertible debt. Investor will own 24,250,000 shares representing approximately 20% of ECGI’s outstanding common stock. If shares or options or other rights exercisable for or convertible into shares of ECGI are issued prior to closing, the number of shares to be issued to Investor will be adjusted so as to equal 20% of ECGI’s outstanding common stock post-deal.