Monday, December 10, 2018 11:15:09 AM
In the meantime, TRTC keeps adding real world assets,...
Sure but the capital raised has always been via discounted equity convertible debt which is horrible for an equity buyer.
It is due to this financing method and underperformance of the company, Q3 2018 revenue DECLINE when peers all improved, is why the share price is at all time lows not seen since 2014.
Toxic dilution is a defined term and TRTC's discounted equity convertible notes meet the definition.
Quote:
All principal and interest due and owing under the Note is convertible into shares of Common Stock at any time at the election of the holder at a conversion price per share equal to the lower of (i) $4.50 or (ii) 87% of the average of the two (2) lowest daily volume weighted average prices of the Common Stock in the thirteen (13) trading days prior to the conversion date (the “Conversion Price”), which Conversion Price is subject to adjustment for (i) stock splits, stock dividends, combinations, or similar events and (ii) full ratchet anti-dilution protection. The Purchaser will have participation rights in subsequent rights offerings and pro rata distributions. Upon certain events of default, the conversion price of the Note will automatically become 70% of the average of the three (3) lowest volume weighted average prices of the Common Stock in the twenty (20) consecutive trading days prior to the conversion date for so long as such event of default remains in effect
http://archive.fast-edgar.com//20181203/ASZ2KG2CZ22FBZSN222N2ZZ2QDOAZZ27Z2A2/
TRTC has gone from $6 to $1 this year on all the great happenings at TRTC and Q3 2018 was a disaster!
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