Depends what he is offering. I'd expect they wouldn't even look at a 100K offer and would probably look for 150k at least.
They know they will sell the shares. Even if they are selling them for .0001 they will be converting at .00004 and getting there profit.
Its the MO for pinkie CEO's as its always the retails investors that pay the debt off and suffer the consequences through dilution. The CEO then ends up with a debt free company with his percentage of the company maintained.
At the very least he should be using the money he was going to buy the CD with to buy shares.
If he was willing to spend 100k he could sit on the bid at .0007 and purchase 140 Million shares. That would cover most of the conversions as they would be converting at a higher price. It would also maintain the PPS to a basic level and give confidence to buyers.
It would also bring in a lot more investors as they would see the CEO supporting his own company. He likely would only end up spending 50K as the new investors would pick up the slack.
Maybe some of Brian's friends here might suggest that to him, very very soon.....It would let us know that the CEO actually had the back of his own investors.
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