Thank you Jimmy for your detailed comments and information! I would like to hear your thoughts about the following information re financing tactics of some AERG accredited investors..from the recent Septemeber 30 10-Q "During the quarter ended September 30, 2020, we (AERG) received $4,324,000 in bridge funding pursuant to 10% Convertible Promissory Notes (the “2020 Notes”). Also, during the quarter, notes containing a principal balance of $410,000 with a maturity date of September 1, 2019 and a principal balance of $620,000 with a maturity date of December 1, 2019 were exchanged into this portfolio of notes payable." /// from page 26 of September 30,2020 10-Q report.. "Effective November 5, 2020, the company and the holders agreed to convert all outstanding principal and interest outstanding on its 2020 10% Promissory Notes into shares of the company’s common stock. The notes were converted at a price per share of $0.30, resulting in the issuance to the noteholders of 18,386,174 shares in the aggregate. All of these converting noteholders are accredited, sophisticated investors, and neither the issuance of the notes nor their conversion were in connection with any public offering, pursuant to Section 4(a)(2) of the Securities Act of 1933."
Why in your opinion did the accredited investors exchange their notes for common stock last month when the notes were continually convertible at 30 cents a share through July 15,2021 and ALSO paid the investors 10 per cent in cash until maturity next summer ? thank you in advance for your analysis and response !
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