Enzolytics Inc (ENZC)

[Valuator2]

Good point. Not only that, but the notes are convertible at some undisclosed rate. Due in less than 2 weeks. It was not a public offering and not a bank loan. Who are these investors? In the past, some Bulgarians, apparently familiar with past ITV-1 trials, have provided cash through preferred stock purchases or partnership agreements. JMHO.

If they did need the money, the convertible feature may have been necessary. However, if ENZC wasn't in dire need of the money on short notice, it tends to look (to me) like a favor and possibly a backdoor way to award an excessive number of shares to somebody if the conversion rate is anything other than the current price of the stock at the time of the conversion. JMHO.