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Re: Beantime77 post# 11702

Friday, 06/15/2018 10:09:53 AM

Friday, June 15, 2018 10:09:53 AM

Post# of 41910
OK, let's say someone is shorting this stock (without his short position ever showing in the bi-monthly report). Let's say this person, Shorty, is extremely rich, since to short 1 measly million VTNL shares, he must keep $250 million dollars in his trading account.

Which hurts the stock more, shorting a million shares, or issuing 1 and a half Billion new dilutive shares in 3 months, that have been immediately dumped upon unsuspecting shareholders ?

I'd say that would be the known 1.5 billion, not the hypothetical million.

During the three months ended March 31, 2018, the holders of convertible notes converted a total of $213,824 of principal, accrued interest, note fees and penalties into 1,505,166,503 shares of common stock.
The common stock was valued at $898,016 based on the market price of the Company’s stock on the date of conversion. The issuance extinguished $1,384,101 worth of derivative liabilities, and $143,452 was recorded as additional paid in capital.



Quick calculation: if $214K of debt converted into 1.5 billion shares, $715K of debt convert into ?????? billion shares (assuming the stock price does not craters, which it certain to happen).

Also, the huge effective discount $213,824 / 1,505,166,503 = $0.000142 a share means that the toxic lenders made money like bandits, on the back of hapless VTNL shareholders, so their $214K of loans gave them $898,016 worth of stock, for a tidy $684K profit !!!!

Life is good. For the toxic lenders. The shareholders get $@fted.