Replies to post #1248 on Ironclad Encryption Corp. (fka IRNC)

[tchalla]

i hope folks have read the 10q. all of the convertible notes have a 65% discount to the average of the lowest two trades within the previous 20 days of conversion. ouch. that puts the conversion price at about .0033. at .025, that's 800% profit for noteholders. they are able to convert their shares at any time now. irnc will be subpenny again very quickly because of the amount of the notes and the conversion price. they will get shares for $500k of notes at .0033-.004. that's like 150mil more shares to hit just for those and does not include the conversions for derivative liability to the tune of $1.7 mil. irnc has a total of $5.1mil debt. yowza