FONU2 Inc (FONU)

[Realityhurts]

He already converted the maximum amount of the note that he could without going over the 9.99% threshold indicating that FONU was in default already. Those shares will lose their restrictive legend at that time yes. He can then convert again. Probably not at as good of terms that this tranche received but, it all depends on how the market absorbs his selling. While I have never known a toxic financier to hold on after he/she could sell, there is always a first time for everything lol.

There are others that might begin converting and selling before he is able to even though his time is rapidly approaching.

Either way, the public float utopia that FONU shareholders have enjoyed for the last 6 months, is quickly coming to an end.

The bills are starting to come due.

I suspect that we'll start seeing a few more 13G filings in the coming days and weeks.