Helix Technologies Inc. (fka HLIX)

[EmeraldSEA]

Concern about fundamentals. Physical descriptions need not apply.

I don’t know nothing about Venegas (no one in pnw does tbh) other than his contempt for investors and what ex employees say about him on glassdoor (take with a spoon of salt but still interesting).

But this section of 10q scares me. 10. Convertible notes payable pg 23 – 25.
Note 11 part-converted to 1.1 million shares at 11 cents.
Note 11 $280k matured 5/15 (last week)
Note 12 $450k matures 6/16
Note 13 $450k matures 7/11
Note 14 $210k matures 9/26

That’s $1.2 million in principal due in less than 60 days and $1.4 million in 4 months. HLIX cash cannot pay back so all will convert at 30% discount to market. If HLIX price at conversion is 16 cents, these will convert at 11 cents.

That’s 12.5 million shares at 11 cents each about to flood the market w/o any care for if the price goes above 16 cents.

Counterpoint or show me something I missed b/c it looks like Michigan’s two dams broke and we’re all sitting in Midland?