Frankly, I'm not very optimistic about it and for the following reasons. I wrote a program to sum up the trading volumes and the dollars traded (since July) as a result. Those numbers are:
The Monthly Dollars are just the daily volume times the average daily PPS (which has been a constant 0.0001 for ~3 months) summed over the month. What is noticeable is the decline in the total Monthly Dollars. If every dollar is assumed to be taken in by the convertible note holders, then one can see that the debts are not being paid off very rapidly. In fact, a $2 million debt would require 40 months at ~$50,000/month to repay. This shows the financial incompetence of Bates and his CFO as this is a really steep mountain to climb. If there are not sufficient sales (or refinancing) to knock off that Convertible debt, this mess must continue and it WILL kill the company. It is clear that this is a binary situation. The insane part of it all is that this was (and perhaps still is) a solvable problem if they had 2 working brain cells looking at the financial side!
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