EcoloCap Solutions Inc. (fka ECOS)

[deal guy]

John is one of a group of investors who bought convertible promissory notes in microcaps. He has historically converted his shares at a discount to the market (50-70%) and then flipped in the market for cash. When the notes default (which the ECOS notes did) the interest rates becomes usury. He made his money on the purchase at discount and resale.

When the rules changed in 2018 he no longer could convert and flip. His debt is a carryover from before the rules changed.

His remaining plays are (i) to enforce his rights as a creditor if the company tries to dispose of its assets; (ii) hope for a buyout where he will get cashed out; or (iii) hope the rules changed and he could convert and flip again.

John doesn't care about the company he invests in. He needs a company with a low stock price, an ability to issue shares and some sort of investment thesis. He doesn't want to be a shareholder, he wants to make money flipping notes to shares to cash.

John (and the other promissory note issuers) are the equivalent of the payday loan company or the juice loan guy. The last person you really want to go to for a loan.