Pareteum Corporation (fka TEUM)

[noshorthere]

The current big problem at TEUM is the convertible debt to High Trail. High Trail notified TEUM there would be no further extensions of the forbearance agreement, and the then current extension ended Aug. 23. That means the terms of the loan are accelerated, and TEUM must pay 125% of the principal and interest (about $17M), or convert at 75% discount of the lowest VWAP over the last 30 days. That means that the shares would convert at about .12 each, and result in nearly 140 million shares, giving High Trail nearly 50% of the shares outstanding.