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Thursday, July 06, 2023 9:03:15 AM
Get everyone to convert their debt to shares. This will increase the outstanding number of shares closer to the 5 billion max. Then once everyone has converted, initiate a reverse split. Now you've cancelled out any debt (except probably what Paul and his family is owed as I doubt he'll convert his debt into shares) and outstanding shares are back to below 250 million or less (assuming a 1:20 R/S).
Next, start publicly pumping a new JV in your PRs and repeat the toxic note cycle and dilute the heck out of the number of shares again.
If I held a loan note, I would not convert to shares. As shown above, shares can be devalued via a R/S and additional dilution. It's unlikely you'd see that cash either way, but at least you'd have a claim of something if you keep the note. Once you convert it to shares, you've moved to last in line during collections.
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