That is exactly why we need to see the Promissory note so we can see what happens when the post split price is below $0.0032 - toxic lenders always protect the downside.
That could trigger a default event.
So your argument isn't close to the reality of penny stock lenders - they always protect the downside.
Why wouldn't Sharp name the lender and provide the Promissory note so everyone could read the terms and conditions?