Toxic Funders

[dade]

Nice Post. No mention of a contingency to the above funding until its disclosed later, in a 10Q filing below

Quote:
ITEM 5. OTHER INFORMATION

RB Capital Financing

In September of 2020, the Company negotiated a financing transaction with RB Capital Partners, Inc. (“RB Capital”), whereby RB Capital would provide the Company with up to $400,000 in financing. As a condition to the financing, the Company was required to reduce the conversion price of a $31,500 promissory note RB Capital acquired from a third-party down to $0.001 and immediately convert the note into 31,500,000 shares of unrestricted common stock. Such shares were issued on or about October 7, 2020.

https://www.sec.gov/Archives/edgar/data/1119897/000155479520000304/pctl1114form10q.htm

Since the initial conventional Note, PCT has PR'd several subsequent conventional loans from RBC without any contingencies mentioned in the PR, exactly as the initial loan.

PCTL is currently delinquent in their Q1 2021 filing, so no disclosure available of other significantly discounted shares being issued as contingency to subsequent loans.