Midwest Holding Inc. (MDWT)

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They raised two million, roughly, through the sale of 1.5 million of their newly created preferred stock. Most of the funds were used to pay off a debtor from many years ago.

There is $22,000,000 available to them, but they must hold a shareholders meeting to approve the massive increase in authorized shares, as this $22,000,000 will be a convertible note into common shares. I don't know if they will get the funds all at once or whether it will be loaned in increments.

Shareholders will have to approve an increase from 120,000,000 authorized to 1.2 billion shares authorized before these funds will be available.

Major dilution. If they don't approve it, well, I think they will be hurting. No good outcome either way.