Here are the facts! NO RS is planned and Tom has non desire for a RS and has been CONFIRMED not only below but in the 4/19 PR and through many emails and phone calls since where Tom states clearly he is working very hard for NO RS!!! "BVTK Board pleased with real progress on both the software and telecom services front. Financials will be made current...No desire for RS..."
BVTK Board pleased with real progress on both the software and telecom services front. Financials will be made current...No desire for RS...
The problem is that $BVTK is delinquent and has not filed its annual report, and so one can only wonder how much more in toxic convertibles exist in addition to the 1.6 billion shares mentioned above. The daily dumps to not appear to be slowing, and probably for good reason, as noteholders are converting their shares for less than .0001 and selling at market.
Take for example the below conversion terms:
On February 17, 2016, the Company issued 66,790,353 shares of common stock to Adar Bays, LLC ("Adar Bays") in partial satisfaction of its obligations under, and the holder's election to convert a $3,600 long-term portion of, the Company's convertible promissory note issued to Adar Bays on December 19, 2014.
66,790,353 shares issued for a measly $3,600 debt equates to a convertible cost basis of .0000539.
Until $BVTK provides transparency to the extent of the current debt situation, there is no assurance that a R/S will not occur, regardless of wishful statements from the company.
Noteholders are relentlessly selling day in, day out, so that begs the question, why are noteholders selling so incessantly? Could it be that noteholders don't want to end up with fewer shares due to an impending R/S?
GLTA... this information may be helpful to some, and others are welcome to disdain it; however, one cannot effectively argue against the verifiable truth. The truth hurts sometimes!