36M shares exchange for $148k (this is equivalent to $0.004 per share, 10 times better than the toxic debt at 0.0004), this is equity financing, not toxic debt, good deal. Market can easily absorb this tiny number of shares!
The lender is very confident to take stock share price at $0.004 to finance the company operation. That means that $0.004 is absolutely bottom price!
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