Good afternoon! I wasn't around when Jody was in charge and so I'm speaking of what I know not of... I just think that hospital approvals, series C approval, etc.. might have been longer than he could anticipate and maybe he couldn't control it. In my dealing with him he seemed bright.. It might just be that he was in a bad spot as many startups are, and took what he could get.
Recent debt in the Q1 was that, especially with the late filing, I believe lenders could buy shares at a 50%ish discount to the lowest price over the last few weeks. This is similar to what it was last year.. and when we got down to .0015 and defaulted, it meant we owed a lot of shares.
What I don't know is what dilution does.. Last year it seemed to trigger additional shares that we owed on these notes.. I'm not sure what the provisions are on these. I'm sure we could look or as at the CC, but I'm not too worried about it.
The terms of the debt are pretty common across penny stocks, I have it on one of my others.. Difference is the price here tanked and that's what really made it 'toxic'. If the price goes down to .0015 again, we'll be in the same boat.. I just don't see it happening.
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