Monday, March 12, 2018 3:43:21 PM
But they had to RS to keep from going into default with their note holders. Well I guess they could have increased the AS instead. The insiders there hold over 50% of the voting rights so they could have authorized an increase to the AS without a vote by the shareholders.
Toxic debt is a horrible thing. But small companies with bad balance sheets can't get conventional bank financing so they are pretty much without options if they wish to remain in business as they try to become profitable.
And as you are aware with TRTC, they can't get conventional financing either as MJ is illegal at the federal level.
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