Players Network Inc. (fka PNTV)

[lesgetrich]

A 20% discount to the market price?

We've had this discussion before. This is not toxic debt. The Kodiak deal is very complicated. Only the first PNTV draw on the loan is discounted. This sets the pps for future draws. See the following links to previous posts...

As of 8/19/2017 there was no convertible debt other than employee stock options and what was contained in the Kodiak 8-K

The pps has to be over $.253/share before Kodiak can profitably start selling shares

PNTV's initial draw on the loan determines the share price at which future draws are taken

Kodiak can not sell shares or short the stock during the contract period

it's possible for Kodiak to be underwater on their investment for a long time

If the pps gets to $.446/share before PNTV makes its first loan draw, the cost to Kodiak would be $.50/share for all future draws

This can not be described as toxic debt.