"The Preferred C Stock is convertible at any time at 60% of the lowest VWAP of the 20 days leading up to conversion"
The lowest Volume Weighted Average Price (VWAP) in the past 14 days was .0016, (albeit if look at 20 days, it's .001, So, I'm over estimating) which equals pre-reverse split of .00008 (5 digits) 60% of this is .000048 (6 Digits) x 20 = .00096 (5 digits), so, moreover, Redwood Toxic and the ConMan's pals are converting those Toxic C preferred to dump at .02 cents?
20 times the money for Toxic?? ya thunk?
It's a fact! And the facts are; last reported there were 104,732 Toxic C issued, of which were in default, paying default dividents in more Toxic C. Including authorized up too 120,000 which, due to last report the ConMan created Toxic D preferred, indication all those 120,000 C's are gone..
They have a stated value of $100 per C stock.
So, lets talk how much money toxic will/is converting shale we?
100 x 120,000 = $12,000,000 Yet the last time they had been converted, "According to the conversion terms described under Note 7 of the Financial Footnotes, investors converted 10,183 shares of Preferred C Stock representing value of $5,070,923 into 5,070,922,569 shares of the Company’s Common Stock."
Now lets talk about how much dilution this is, only on the stated value of each C preferred stock $100 = $12,000,000 okey dokey?
12 million dollars converted @ .00096!! 12,500,000,000 (12.5 BILLION) shares!!
So what if redwood and his pals, the exact same people who dumped from June 2014 into December 2014, moreover who've been controlling this stock for the past 3-4 years, the death spiral, managed to average just 1 penny out of this conversion.
You're looking at an estimated $120,000,000 bucks of stock for toxic's death spiral.
What does the magic crystal ball say? Another reverse split is already planned, just wait and see. .
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