they have sold 30M shares not 48M for one. $10,562,425 worth of notes at 82% discount is about $12,881,000. Even if they paid back $8.2M(which they haven't) you looking at $4.68M still needed. At .05 thats nearly 100,000,000 shares.
More than likely they have paid back about $6M or less. Doubt they can find enough buyers to dump 100-150M shares .05. At .025 they will need double the shares. OS will likely increase another 200-300M by the time they finish and assuming they don't need to do a reverse split.
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