It’s all right there in the S1. A few posters claimed how great filing the S1 was. Fact is it is debt. People aren’t buying this stock and selling for a loss. The CEO didn’t lie about it. Be careful when you believe something because it would be great if it were true. The facts are all right in front of us.
The part we don’t know about is how successful the company will be. It’s going to go a lot lower without people buying. The debt can be absorbed by buying. The lower it goes the more shares needed to convert. I doubt if management expected the shares to convert below .01 or even .02
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