PCT Ltd (PCTL)

[Not_on_the_rug]

All of the notes have some sort of provision allowing them to convert at the average price of the lowest two trading days of the last 10 days. They also have a provision that they can't convert such that they will own more than 5% of the O/S at any given time. Explains why they didn't just pull the trigger and convert everything at the lows of mid July.

Those loans were taken out in January- March when the share price was like $.15.

Makes you wonder if this was an engineered takedown, or they got caught with their pants around their ankles when the merger with Magnolia fell through.