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SoccerFan1

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SoccerFan1

Re: CoalMinersGlove post# 722

Thursday, 06/09/2022 11:23:02 AM

Thursday, June 09, 2022 11:23:02 AM

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It looks as if the owner is going to convert his loan to the company into equity. There's 139.9 million issued shares out of 300 million authorized shares (meaning company can issue another 160 million shares or so). The note allows him to convert a $1.1 million dollar loan to equity on a conversion rate of 1 cent: 1 share, so I guess he could get an additional 110 millions shares. Probably not a bad thing, and may indicate future positive activity. Anyone disagree?
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