Mexus Gold US (MXSG)

[1manband]

No, it isn't. The new low is VERY important, as it sets the price for the toxic death spiral convertible conversion rates. The closing price is not important whatsoever.

For example:

"1800 Diagonal Lending LLC

On May 31, 2022, the Company issued a Convertible Promissory Note (“Note”) to 1800 Diagonal Lending LLC (“Holder”) in the original principal amount of $33,500 less transaction costs of $3,500 bearing a 12% annual interest rate and maturing May 31, 2023, for $30,000 in cash. After 180 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen (15) trading day period ending on the latest complete trading day prior to the conversion date. "

https://www.sec.gov/ix?doc=/Archives/edgar/data/1355677/000109690622001956/mxsg-20220630.htm