"When the rules changed in 2018 he no longer could convert and flip. His debt is a carryover from before the rules changed".
Yep...few penny players are even aware that the SEC changed the rules last spring and virtually shut down the "all penny stocks eventually run on thin air" P&D nonsense. Many that were only here for that reason, are no longer...most remaining don't even know about, or understand, the rule changes.
It was about time they shut down the likes of Asher and Fife and my guess is it's also the main reason Siegel slithered away last March and the 2017 10-K was, and still is, 'a little late'.
JMO
Please help save the earth. It's our only source of chocolate.
