Convertible notes haven’t dried up. 250M of the original 613M remain to be issued. And he’s just issued Pref E shares now convertible to common at 100 apiece for another 120M after the restriction period. And here is needing 750M in Sales qrtrly to meet his expenses and his 1st two qtrs at $62K and $196K. He’s got to raise a lot more money than his Pref Es just got him. It’s a long way to December receivables.
New dilution coming in whatever form he chooses...warrants? More Prefs? Toxic Loans? Bank loans can save on dilution, but can he get them with the fins he can show?
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