Toxic financing comes in many flavors, shapes, and sizes.
It is beyond naive to think that Toxic Financing must be in the form of "convertible notes", "convertible preferreds", any "toxic debt", or warrants, rights, etc.
The net effect of any Toxic Financing is that the financier gets huge numbers of ridiculously cheap shares to play with in the market while the common shareholder gets the crap diluted out of them.
That's EXACTLY what has happened to RIGH.
CEO Angel Stanz did this IN THE DARK, while RIGH was non-reporting, when he secretly increased the Authorized Shares by six-fold (5 Billion to 30 Billion) and quickly gave 28+ BILLION shares to Taylor Moffit's shells and his cohort, Sal Tuzzolino.
By some estimates, those 28+ BILLION shares were exchanged for a promise of about $200,000.
I realize it's hard for large retail investors to get their heads around that fact- that $200,000, an amount perhaps close to their own investment in the company, bought almost 90% of the Outstanding Shares, but...