Agreed, except for your last paragraph. He knows how this is going to end and will play it according to the book:
*Price per share doesn't matter so long as he can keep up the volume.
*They will print shares all the way into triple zeroes as long as the volume is there to absorb the daily production of printed shares.
*He will not fold up his tent until the volume dries up. After that, the company will cease operations with one final PR blaming the failure on one thing or another.
*Finally, I'd expect him to start all over again by creating another company from the empty shell of HEMP, Inc., but perhaps with a slightly different focus and slightly different stock symbol.
After all, the game has been good for the holders of these convertibles. Why not play another?
Good luck!
-Fritz
The more you know, the less you don't know.