Wednesday, October 12, 2016 12:25:05 PM
so essentially the recent $3.0 million private placement of convertible notes with a conversion price of $3.00 is really a conversion price of about half that, or about $1.50 since the equity raise allows for the vesting of those approximate 1.5 million free common shares issued to Officers/Directors, which were the same ones that also were involved as investors in the private placement
so, essentially Officers/Directors are putting money into DRNE as about 50% discount to market...
and guess what, most of the cash raised goes into their pockets as part of their compensation
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