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Tuesday, June 16, 2020 7:30:10 PM
10 Billion is a lot of shares..they are buying up properties..with what? They restructured old debt, ( pending legal review ) but how are they paying for the new properties and salaries? The lockups on shares are for CONVERSION notes for shares in the future for a specific time. So they won't get a portion of the 10 billion authorized shares until after a set period. But what about the what about the portion of the 10 billion not locked up? If it was 5 billion it would still be a lot. Leonite gets to purchase up to 2 billion ( 20% ) ..that leaves 8 billion.
"...All existing Leonite Warrants to be exchanged with a new Leonite five year warrant granting Leonite the option to purchase equity up to 20% of the outstanding common shares at $.10 subject to adjustment. "
What adjustment?
A simple narrative of ".10 a share!" doesn't work...yet.
"There remains in excess of $3 million dollars of shareholder loans due to be settled in the near future"...how many shares for that?
Not saying they haven't made progress and noticing there may be some money to be made here.
Name dropping and glad handing doesn't make money you keep.
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