I understand that you're not trying to bash, and your question is valid and deserves an answer. I took some time to look it up so we can all be on the same page. Thank You for understanding and taking the time to do some research
I added 50% more shares today, and I'm still down 25%, I really haven't seen that much selling pressure in forever, and I've been watching hundreds of stocks in the past 3 years.
Not all noteholders are subject to a 4.99% or 9.99% beneficial ownership limit. They serve as caps to prevent a noteholder from owning more than a specified percentage of the company’s outstanding shares upon conversion. Staying below 5% can help avoid SEC reporting requirements, like filing a Schedule 13D or 13G. I know very well why these limits exist, you can substitue All or 100% of noteholders by 99% if you want, it is extremely rare that there is no 4.99 or 9.99% beneficial ownership limits
The noteholder's issue you ask for is not an offering. It's a private offering or private placement, which is when a company sells its securities directly to a limited number of private investors, such as institutional investors, high-net-worth individuals, or accredited investors. Private offerings are less regulated and are usually exempt from SEC registration requirements under Regulation D, Rule 506. This exemption means fewer disclosures, lower costs, and quicker access to capital. IT really doesn't matter from where the shares come from, the filling never stated these came from Reg D Private offering, where are you getting that from?
Those are the convertible note-restricted shares issued on September 8, 2022, with a 10% interest rate maturing on September 8, 2023. All of these notes were converted during 2023, as detailed in the filings. Not a single one of these notes has been converted, if that were the case, they would no longer be in the "Debt Securities, Including Promissory and Convertible Notes" Item 3B
Maturity date != when the shares get converted, it is the date at which the principal outstanding is due, and the date form which default starts.
You are looking at the wrong table, the table that shows if notes were converted is above the one mentioned previously, and is called "3) Issuance History A. Changes to the Number of Outstanding Shares"
If you check from September 8, 2023, you'll see nothing
Chad Nelson name doesn't appear in the issuance table (He's the representative for King Wharf and Invenire, which are two of the 3 biggest noteholders of AFFU, unless Mellon Enterprises is one, in which case it'll be 2 of 4 biggest)
You can also check AFFU Balance Sheet and compare the Note Payables outstanding $ with what's the total $ in the Table "Item 3B Promissory and Convertible Notes
"
Notes Payables = 5.4m$
"Item 3B Promissory and Convertible Notes" = ~5.4m$
That's the proof that all notes I'm referring to, are/were currently outstanding as of June 30, 2024. (In other words, they were never converted in September 2023)
AI
