Depends what he is offering. I'd expect they wouldn't even look at a 100K offer and would probably look for 150k at least.
They know they will sell the shares. Even if they are selling them for .0001 they will be converting at .00004 and getting there profit.
Its the MO for pinkie CEO's as its always the retails investors that pay the debt off and suffer the consequences through dilution. The CEO then ends up with a debt free company with his percentage of the company maintained.
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