OWC Pharmaceutical Research Corp (OWCP)

[BruceLake]

Triggering events were not cumulative. The first one was all that was needed. The subsequent ones had no triggering impact, meaning they did not cause the conversion calculations to be any more punitive than they already were.

The triggering events did not cause the demise of the company, Bignitz did. If anything it speeded up the process. Either way, with no research going on, the company was doomed. Referring to the triggering events as a "gift" from Bignitz to DGF is absurd. The real gift would have been if the proceeds of the loan had been put to good use to advance the company. Instead all DGF is left with are 386 useless preferred shares.