The company is offering a 50% discount as obviously the shares are trading at zero x .0001 so the CEO's offering preferred shares that convert into common shares after the restriction period lifts.
Its a shitty deal for those of us loyal shareholders that take an investment in a company at face value yet have to deal with this type of toxic dilution.
Why should these individuals be immune to a reverse stock split as well as receive shares at a 60% discount? These types of tactics should be completely illegal
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