Sunday, June 23, 2024 9:56:20 PM
Here's all you need to know about this stock. Look on pages 8 and 9 of this:
https://www.otcmarkets.com/otcapi/company/financial-report/403114/content
That's all the convertible note balances as of the end of March, and with another 400M or so shares added since that report (ie - they're not nearly done). Look at the conversion rates, much of it is 50% "market price," but the real kicker is the 3a10 settlement, that allows each creditor to convert at the lowest trading price for the 30 days prior to conversion. Guess what that price is right now? $0.0003. Guess how many shares each of those creditors can convert at one time? Up to 9.99% of the O/S, or about 100M shares at a time for each named creditor. So, they'll each load up 100M shares, which will cost them $30k of their debt balance, and be ready to dump into any liquidity the pumpers stir up. Then, they'll load up another 9.99%, lather, rinse, repeat.
I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.
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