Now if they do nothing ... and get charged by the SEC ... not only will they not be able to convert debt to shares ... but the entire debt note will get voided as well.
Why do you think John Fife - Typenex and Keener JMJ Financial has not converted any shares? They are CATV convertible debt holders. Oh yeah ... they were charged in 2020 for being and unregistered dealer by the SEC. Since they have already been charged ... MF does not have to do anything. They cant convert their shares. And if the court rules against them and for the SEC as they did in a recent case ... all they have to do is let it play out because the court ruling is all debt notes are completely voided. I would not be surprised to see a countersuit and there is legal precedent that their business practice violates Section 15a1 of SEC Act of 1934.