Yep ... and the fact is that Marquis 111k debt of principal and interest when MF took over could have been converted to shares at any time because those old debts are from 2015 and already in default.
By doing a new deal, he took that old convertible debt he required and negotiated a new deal ... for restricted common stock so none of that debt could be converted yo shares for 1 year. Otherwise ... Marquis would be doing what Adar Bays wanted to do in the 1st quarter of 2021. That would be a reasonable thing to do and make sense. The shares reserved I guarantee you is not the amount that Marquis would ever be able to convert.
The tin foil hats are good at spinning things. The old debt is still something MF inherited and exists on almost every OTC ticker shell sitting out there. Anyone taking it on would have to have a plan a deal with it. The toxic lenders have always been shady, go look at Adar Bays and all the tickers they have diluted into oblivion. The CEO's were not in on anything. Just victims of these toxic lenders.
Everyone has their own theory ... but mine is plausible ... MF had to deal with the old toxic notes Marquis already had acquired and the new promissory note MF had no choice but to deal with Marquis whether he eanted to or not ... but he prevented them from doing anything for a year with a new note. And may have plans to deal with it or renogotiate if possible before then.
2 toxic lenders on our financials are under current SEC litigation Fife Typenex and JMJ Keener charged with being unregistered dealers and a Florida judge ruled in favor of the SEC on all charges to cancel all shares they had, disgorgement of ill gotten gains, civil fines, penny stock bar AND voiding all notes by those lenders. Adar Bays is next. And Marquis will be too if they ever try to convert or sell any shares because they are unregistered broker dealers and would be in violation of Section 15(a)(1). I would not be surprised if the terms of the deal get renogiated as well. MF will be the one with a lot of leverage of these lenders soon enough.
