Good plan. Me too. I'll give him a chance, butt look at him and his story hard and with a skeptical eye. I've seen what often happens when lawyers become CEOs of pennystocks, and you need to have a gimbaled eye and verify everything.
Most often it's nott pretty. Butt there is always room for an exception.
Ronald Reagan said 'trust butt verify'. In pennystocks, you always have to do that second step - verify - because there is so much bullshit in the pennystocks.
I have learned in the pennystocks that it is best to skip that first step. Trust nothing - just verify.
Procter & Gamble or Chevron - I can trust - and then verify. Filthy Form 15 'dark' pennystocks - I trust nothing and verify everything.
We will see if Chhabra intends to clean up this pennyscam, and even if so, whether he CAN do it. Rogerinocchio still CONtrols the company. A new CEO can become an ex-CEO or be vetoed on anything by those who CONtrol the corporation.
Right now, I see a dude who sunk at LEAST $125,000 into this pennyturd and is underwater and, since the company is not current in reporting, won't even be able to CONvert and use Rule 144 to delegend (unrestrict) the shares directly upon CONversion. I'd be pissed as hell and demand to be CEO and take over responsibility for financial reporting and auditing.
I think that Rogerinocchio may have been unable to sell any CONvertible notes UNLESS he surrendered this role to Chhabra. Indeed, Chbbra may have CONditioned any further investment into the company on his being named CEO.
Rogerinocchio my have been cornered - BK or give up CEO-ship in order to get more CONvertible note funding.
We will see in the 2Q21 quarterly disclosure where notes and share issuances from THIS current quarter, which ends 31 December 2020 - are reported. That will be in February.
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