Friday, January 04, 2019 6:05:41 PM
The facts :
In May 2018 the pps was $1.50 with a O/S of 10 million
Since then the pps has gone down 99.9%
The O/S has gone up 90 times higher to just over 900 million (based on their 40% average on volume since their last update)
The company obviously doesn't have the money to pay off these convertible notes that have been coming due , so their hand is forced to give the debt holders shares at .00232 (based on their 40% discount from the lowest pps in 20 days)
That's why they call this type of debt/financing toxic because most companies that resort to this type of financing go into a toxic death spiral.
The company has to go on though because there is still way to much debt to convert to shares So once they beat the hell out of the current shareholders , they will just do a huge R/S & start all over again.
All of these "Green Energy" plays seem to fail & just turn into share selling schemes that run off of shareholders "Green"
I see this one turning into another GERS
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