No toxic convert holder loses money. They convert at 70% of VWAP, which is under $0.0004. They sell at $0.0007 (or $0.0008). That is not only not losing money, it is making about 75% return on their money.
Buying toxic death spiral convertibles is a license to steal.......all from the common shareholders.
I believe their last shot is already discharged with the flop of the Ruby exploration. There is approximately a million in debt left to convert, maybe more considering they recently took out 590k in additional CD debt? Why is the question with operations halted?
Watch your hero Leopold start collecting his back salary at your expense. I have seen this movie dozens of times and it always ends the same. Even if he doesn't take his back salary in the near future eventually he will and the toxic vultures are going to pick some NBRI bones until there is nothing left and they have to either cease altogether or reverse split and try to scam a whole new flock o sheep.
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