Thursday, April 20, 2017 3:33:24 PM
Also I don't see the company paying back the notes for a number reasons.
The company needs to "sell" their receivables which means they are in a position of cash flow weakness. A major portion of the notes belong to the CEO or company insiders at +90% market discount. The other nite holders are extremely unlikely to accept payment and would probably rather force conversion considering the 90% upswing.
Adding current issues and out and future conversions, with approximately 40m issued, no way this company is worth $5m. Best estimate: $2m or under 5 cents a share.
Just another one product company that has management running it for personal gain.
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