Replies to post #30562 on Greater Cannabis Company Inc (GCAN)

[Sprycel]

I believe this answer is the latest to address this concern:

The actual Warrant notes were renegotiated into new conversion notes. There are 4 of them. WN1 through WN4. We can go around and around at the renegotiated pricing but I have a thought about why EMET and GCAN came to these final prices. The simple explanation would be if EMET bought those Warrants for $328,900 (657,800 warrants at .50 per warrant), what price would they be able to sell those warrants for and to whom? Common stock shares are much easier to sell! I believe that is why EMET signed the deal. Warrants are very hard to sell and there is really no market so pricing would only be what they could negotiate.
These 4 notes were all issued October 18, 2019 and all are due on October 18, 2020. They are convertible at 75% of the lowest closing price within 15 days of the conversion notification. None of these notes have been converted as of this date.