yea but the discount price isn't what pays the balance.
correct me if im wrong, but the way promissory notes works:
you offer the person "hey we promise to give you $100 worth of stocks, but we can give it to you for $65 in the future, or we pay you back with 10% interest for $110". lender: "sure!"
if paid back in full $100+$10 interest: no conversion if not paid back at all $100 worth of stocks will be given at $65.
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