VBVT(.07)...shell debt acquired by Firetainment officer.....
Still holding my full position in the VBVT shell, and still have expectations that this investment will turn out very well (cost basis under .24 per share). If the float remains this low when the company/shell starts increasing its corporate activity, there is the potential for some explosive upside.
Last week the company provided some partial resolution to the issue surrounding the shell legacy debt. According to the 1/3/2019 8-K filing, all of the debt was acquired by Thomas Wenz (the President of Firetainment)......
I'm not entirely comfortable with the floorless nature of the convertible note (25% discount to market at the time of conversion), but since the debt was acquired by the Firetainment President my concern is a little less than it would normally be. I would assume Thomas Wenz will conduct any conversions in a relatively company/shareholder friendly manner.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.