Exactly. The 'replaced' CD was Not due, for years...
And, 'conversion' is now almost useless , because swyv
is ~'No-Bid' , and can't even Reverse-Split for 4 months.
And, Trillions of new shares are already waiting on line
to try to convert into the float.
So, it was smart for the CD-holder to 'trade-in' for a
non-convertible loan , that Must have its Principal paid
down 25% per year [while also collecting 8% Interest].
Since it is Not convertible , it moves ahead of All of the
remaining convertibles , as far as its 'priority' for
demanding Cash Payments , ON TIME , of Interest + Principal ,
When Due. If swyv is late , the loan-holder can force swyv
into BK , and get 100% Paid-Off [by the BK Judge] , Before
ANY Other swyv Lender , except Wells-Fargo [who has claims
on All Inventory as collateral , and , better lawyers].
The only question is , who traded in their CD ? Actually ,
it was part of a CD , because there was No Previously
Existing CD for exactly $400,000.
Was it a Family-Guy [including TS] , to get paid first ?
Or a Friendly-Guy [with kickbacks to TS] ?
Or a Cornelli-type guy [with 'the Powers of persuasion'] ?
Or, did it even actually happen , Including All Signatures.
After all , we have not seen any SEC Filing confirming it.
extra , Sincerely .
P.S. ; Anyway, it's almost irrelevant to Any common 'share'
holder. They are All still ~guaranteed to get $zero before
and after sw-whatever goes BK. However, as noted above ,
it could be the first cause of the sw BK , and make it
start a little sooner than 'planned'.
Averaging-down is profitable, for shorters, only.
