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Sunday, May 15, 2016 10:06:29 AM
The holder converts at a 45% discount at the average of the lowest three trading days over a 20 day period. The convert holder does not hurt themselves selling into the bid. They are able to send in a new conversion at a lower price for more shares.
"As I said, they chose to hold a gun to the company's head by offering punitive financing terms, well sometimes it backfires, and right now is one of those times. I don't think the owner of the convert expected the share price to be this low when they sold. "
The convert holder knew exactly what he was doing and is taking advantage of WDDD's liquidity.
"They would be smart to stop selling as its only hurting them without a catalyst for buyers to step in right now.
They don't care about WDDD's fundamentals. They just want to convert at a 45% discount as much / fast as possible and dump the shares to lock in an automatic profit. The only thing that hurts the note holder is if WDDD goes no bid.
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