Convoluted calculations miss a very simple point.
Carter and Ali never need to 'lose' on the shares and notes they award themselves. They never need to sell their notes at below the conversion price, because they can assign them at the conversion price.
That makes your convoluted attempt at explaining how they ‘lose’ when they convert completely irrelevant.
Assigning his notes means that the Carter piggy bank gets topped up by amounts which are ‘off the books’ and don’t have to be reported to the SEC, or REVO shareholders.
The assignee of the note doesn’t lose either. He simply waits for two things: first, he waits for the Restriction to be lifted, then he waits for Carter and Ali to issue a PR that boosts the share price above $0.005.
It’s that simple, and that's what they've been doing.
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