it's all over brother - 49,355,640 (plus today's volume!)
they're over-issuing on the norwegian exchange and trying to scam FINRA into distributing assets they don't own or control all while having $30MM of zero floor -50% to the VWAP convertible toxic debt outstanding.
when there's no way to quantify the amount of stock the debt is "equivalent" to - they can't scam anyone to spin anything. it's a circle jerk. if I am a debt-owner and even if I have been scammed into believing there's tangible equity here, I would never allow a spinoff since it impacts my ability to convert and sell more shares vs an increasingly impaired fraudulent scam on the public.
now they will have to announce no spinoff and yes - they're locked out of more share issuance and authorized increased outstanding as well. it's a dead animal until the debtholders move and sue for the A/O share increase and exercise their rights and it's a simple race to the bottom from there.
simple. it's over. it's heading to zero.
there's no bottom.
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