You asked about conversion price. That has yet to be determined. Indeed, whether or not this happens has yet to be determined. When I suggested in broad terms what sort of deal might work, Mark's reaction was to rule out conversion at 0.0001 as being too generous.
In general, I think that anyone who decides to participate in this $5K "project" should have an equal say in how the deal is structured, and one part of that will be a discussion over what we share with the IHUB board (if anything). There may also come a point where there are details that Mark would like us to hold confidential (perhaps with NDAs). I would only want partners in this endeavor who seem reasonably reliable with respect to abiding by these terms.
I have decades of experience as an investor in pinksheets. Sometimes that has involved speaking with corporate officers -- if only to know what stories they are telling their marks. I am not, however, a lawyer or securities expert. Just a private investor. And I have never invested directly in a pinksheet. I've always just bought and sold shares. Indeed, this is the whole reason why I want some compadres in this endeavor. I could just write a check for $5k, taking Mark at his word. But I think (a) the chances of success would be much higher if we have 3-4 others scrutinizing the communications and the terms of the deal -- even if the others have little or no experience beyond what I have, and (b) it is better to be played for a fool to the tune of $1,000 than $5,000 -- if Mark isn't really dealing straight with us.
I will say that Mark's email was VERY cordial, professional, and reasonable. So, I'm just expressing the concerns anyone would have in such an asymmetric situation in which the person coughing up the $$ is the person with the least information about what is going on.
We still need a few more investors. So, come on along. People with long histories of interacting with Mark would be especially helpful.
I am obviously NOT an investment advisor.
