![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Monday, March 28, 2022 8:47:56 AM
I'm curious to see what others think of the financials; specifically where it provides a fixed rate, but then goes on to state that it's a changing rate.
------------------------------------------------------------------
"As part of this transaction the Company also issued Labrys warrants having a five-year term to purchase 42,771,084 shares of theCompany’s restricted common stock, at a fixed exercise price of $0.0083 per share, with a cashless exercise feature."
It then goes on to state....
"The exercise price is subject to adjustment if the Company...while this warrant is outstanding...sell or grant any option to purchase.. (including but not limited to under the Labrys Note), at an effective price per share less than the then exercise price"
They are just calling things 'fixed rate' and then providing terms that make them not convertible at a fixed rate....
"On August 27, 2021, the Company closed on a fixed-rate convertible loan transaction with Labrys Fund, L.P., a Delaware limited accrued and unpaid interest of the Labrys Note due into fully paid and non-assessable shares of common stock at a fixed conversion price equal to $0.0018 per share"
So this "fixed rate" at 0.0083, is actually equal to 0.0018 (as of Q3 financials)
Cannabix Technologies and Omega Laboratories Inc. Provide Positive Developments on Marijuana Breathalyzer Testing • BLO • Jul 11, 2024 8:21 AM
ECGI Holdings Enhances Board with Artificial Intelligence (AI) Expert Ahead of Allon Apparel Launch • ECGI • Jul 10, 2024 8:30 AM
Avant Technologies to Meet Unmet Needs in AI Industry While Addressing Sustainability Concerns • AVAI • Jul 10, 2024 8:00 AM
Panther Minerals Inc. Launches Investor Connect AI Chatbot for Enhanced Investor Engagement and Lead Generation • PURR • Jul 9, 2024 9:00 AM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM