He’s registering with the SEC because he still wants his business to progress.
Just because he’s registering with the SEC doesn’t mean he has to stop using retail investors as his personal piggy bank, with absolutely no regard for shareholder value. He’s just gonna pull a massive RS after he’s done raping us and move his company to Nasdaq. That’s why he registered. Not for us pink sheet penny stock investors.
And as for proof of dilution, we can assume the shares are being converted and SOLD, because the first 500M shares they converted were sold — proof? The float increased by 500M. So it’s safe to assume that they’re selling the rest. But, that’s still not definitive proof.
With that being said, toxic note holders don’t just convert shares and hold them. Nor is the company buying them back. They have 3 additional notes on top of the big one, so if they had enough cash laying around to buy those shares being converted, they wouldn’t have the need to take out more convertibles. Furthermore, it’s against NVSOS rules to buy back shares if you can not first pay off your existing debt (simply have the ability to).
So those shares are 100% being convert AND SOLD. You can also see the dilution by just looking at L2. It’s clear as day.
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