This will be just the start of more new toxic convertible debt. I'll remind everyone who's been here since last year that IR and Bannon both said they had no plans for more convertible debt until the stock price had recovered. What a joke. The conversion process can lead to rapid cascading declines in the stock price. Convert $25K worth, that tanks the price a few ticks, wait a few days, convert $25K and tank the stock further. What looks like 170M shares at a discounted price of .0005 or so can quickly become 400M+ shares with a lot of them converting at .0002 or .0001. And it would be foolish to think they're not working on more toxic debt as I write this.
Keep in mind also that the recent massive share registration and AS increase was for no particular purpose--they're going to bilk retail of money though every form of toxic dilution they can conceive of, and they'll keep luring in new suckers with PRs about big government contracts that don't actually earn them any money since Howco hemorrhages money and is impossibly unprofitable. BANT, in my humble opinion (backed up by mountains of evidence) exists for no other reason than to generate revenue for executives and toxic lenders on the backs of unsuspecting shareholders.
I still expect this to go to .0001. But there is no bottom - if they hit no bid they'll reverse split and dilute forever. This is the definition of a toxic debt spiral.
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