I beginning to think you're right. That guy errors on behalf of the note holders... that's what its appearing more and more to look like. This bump up could have made the note holder another 100% on top of their first 100%.... But we really don't know what price they got their shares at... just know it was 55% of the closing bid. What actually does that mean? Can't the MM doing the liquidation, rake the closing bid weigh down, just so the note holder can get the best base price to use the 55% against? Is it that corrupt?
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