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Alias Born | 11/29/2010 |
Tuesday, August 09, 2022 2:54:09 PM
As explained, a toxic lender like Ironridge or LG Capital can legally force the authorization and issuance of MASSIVE amounts of "NEW" shares again and again in order to satisfy tiny amount of convertible debt. The more shares that hit the O/S the farther the stock price falls and the number of new shares the company is compelled to have in "reSERVE" grows exponentially.
Again, IMO LG was attempting to prove to the court that the debt they were owed entitled them to own or control this radioactive ticker. HOWEVER, LG has been caught in the SEC dragnet and being compelled to disgorge all their ill gotten gains.
https://www.sec.gov/litigation/complaints/2022/comp25410.pdf
There's an entire board now dedicated to this issue. Here's a sample post by a legendary member far more experienced than any of us:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165216845
If you own enough shares I suggest filing an application with the SEC explaining why you should be awarded control of this steaming turd. Let us know how that turns out.
Do not buy, sell or make any investment decision based any information or opinion I post. Conduct your own DD.
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