Petrone Worldwide Inc. (fka PFWIQ)

[horst]

that's pretty interesting. So in sum, Adar wants all the notes (theirs and the other noteholders') to convert at .00005 prior to custodianship being terminated. They also say that Auctus Fund has already converted its notes to equity, but if that's the case, the shares are obviously not reflected in the share structure as displayed by OTC Markets. Maybe that's in progress and the shares are not yet with the transfer agent?

I guess I agree with Adar that Lazar might as well convert the notes and at least resolve the debt in that way. But assuming about $2M in notes including Auctus Fund's claim, that would entail about 40 billion shares at a conversion price of .00005, which would require an amendment to the articles of incorporation, and would obviously dilute the stock into oblivion.

Anyway, it'll be interesting - I think Adar makes a good argument, but it would seem that no outcome will result in progress being made before the compliance date, and if they get what they want, going by that estimate of $2M in notes at .00005, it would require that the OS increase roughly 27-fold from the existing OS.

And the drama continues....