Bantek Inc (BANT)

[horst]

They'll probably be ramping up that dilution even more, as they've officially sunk to the deep-in-the-toilet phase of death spiral financing. In the 10-Q, folks might want to notice that the figures listed for "Repayments of convertible notes payable" and "Repayment of convertible notes payable, related party" were zero and zero, respectively, last quarter. There's another $840K + interest note that must be converted by June 11, 2022 per the terms of the agreement, and there are pages and pages of other convertible notes in that filing, as many as I've ever seen for one company. Most of them are in default, which kicks in a higher interest rate and presumably enables conversions anytime, regardless of the alleged maturity date. Since every corner of Bannon's business is unprofitable, fictional, or both, there's no way to pay off the notes except with freshly minted shares.

Their slogan should be "We're not RNVA, but we're trying to be...."