THE DILUTION HERE IS CRAZY.
The two current pending court cases are meaningless. The total amount of debt per their filing is less than $35K combined.
What EVERYONE HERE should be poking questions at and asking is, what the hell is going on with the $1.85M convertible debt, that is converting to shares at a price of $.003? Specifically pay attention to Note 10 on the 2018 annual filing. That's incredible toxic debt.
Let me take you back to the 2017 Annual Statement, section NOTE 12:
It all starts with the Promissory Note dated June 2, 2014, which was for the amount of $1,850,000. The actual TOTAL amount due on this note (including interest) on 12/31/2016 was $2,018,624.
Now throughout 2017, POTN converted a total of 121,000,000 shares for a total of $363,000. That is a horrible conversion rate of .003 per share.. By 12/31/2017, the balance owed on this loan was $2,018,624 - $363,000 = $1,655,624
^ that is right out of the 2017 Annual statement
Now throughout 2018, POTN again converted another 69,883,334 shares at the same horrible .003 conversion price. This knocked a total of $209,650 from the loan.
So as of 12/31/2018, POTN still owes $1,445,974 on the original loan of $1,850,000, that dates all the way back to June 2, 2014.
It is a total amount less than $1.5M and instead of just paying it via check, they are diluting stock and selling shares at an absolutely crazy rate of .003.
Since the start of 2019, they've already thrown another 57.2M shares on the float. The dilution here is absolutely out of control.
