Tuesday, January 09, 2024 11:50:02 AM
1) Sure, this is possible, but...
2) The company has already announced third party funding in excess of the amount needed to finalize the initial cash portion of the ABBIE IP acquisition.
3) Heightened SEC Enforcement (https://www.securitieslawyer101.com/2023/sec-charges-adam-r-long-and-his-two-companies-l2-capital-llc-and-oasis-capital-llc-as-unregistered-dealers/) and pending rules changes (https://www.securitieslawyer101.com/2023/sec-takes-on-the-toxic-lenders/) have put a SERIOUS dent in the number of firms willing to participate in these types of schemes.
4) As has been exhaustively noted when you have fearmongered about this possibility in the past, any convertible notes issued now would have a minimum one-year holding period from the point at which they matured (and a one-year holding period from the point at which they were actually converted, if the pending change to Rule 144 is adopted).
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