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Monday, August 05, 2019 4:49:58 PM
If you do the math, these note holders can (and it looks like they have) convert the entire O/S and pump into the market. The only way this proposed deal made any sense, was if it had already gone through, and PCTL was somehow using the money to buy the shares back on the open market.
Given that the deal hasn't gone through, it looks like John Q. Public is the group that has been buying the shares. I don't see anymore authorized shares that they could even promise to a lender at this point. Only thing they could do is authorize more shares (not likely at sub $0.01) or, more likely, reverse split and then authorize more shares.
At least that's my interpretation of their publicly available documents. Maybe I'm wrong? Would love to hear an alternative take on this that is well reasoned and sourced from the documents.
Recent PCTL News
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- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 07/13/2023 04:32:57 PM
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