One option, they go back to the well and just start a new round of convertibles, though a bit odd reverse would be that steep, i.e. convetible buyers like volume- key would be whether all the past convertibles already converted.
Second, somehow CFO has or believes he can get private placement investment. So if old convertibles used up, he needed to get higher price to attract private placement investors. It is very very difficult to place sub penny stock with brokers now, especially with a DTC chill. Though in my opinion track record in the past, and what I find overly-promotional press releases and lack of transparency, will make for example 506 ppm hard to imagine in this market.
Third, which I believe almost impossible, is to get bank financing. I cant imagine any bank lending to this company for reasons already posted.
Fourth, which I havent though through, is some relation to the rcent s8 filing.
The trading and prices prior to this announcement ae a bit suspect in my opinion- s8 filing, price firms, then wham another reverse. Something up but not apparent yet.
