Converting at really low prices.
These guys are eating this shit up. Almost every one of these notes has the same language, example : "The note is convertible at 65% multiplied by the lowest closing price during the 20 days prior to the conversion. The conversion price shall be adjusted upon subsequent sales of securities at a price lower than the original conversion price. The variable conversion price has been adjusted to 45% of the market price, based on the conversion price of a new note on May 9, 2019."
That note was converted on 8-1-19. The 20 days leading up to that the lowest close was $.1114. So the shares would have converted at 65% of that, instead they filed the one 10Q late, and now they can convert at 45% of market price.
So you see a bunch of shares converting at $.05, $.06. Not only did you get screwed with the penalties added to the principal, you gave these guys a 20% discount on their converted shares. How nice.