" $ISWH has paid off and cancelled a major convertible debt note by allocating $363,000 to settle the outstanding obligation and remove it from the books!"
Ask yourself how they did that. The last financial statement they filed showed that they had $17,384 in cash.
Did they generate enough revenue to pay it off (even though they're operating at a loss)? Or did they simply replace old debt with new debt? Or did they sell enough shares, diluting current share value, to pay it off?
The Company offers no explanation in the press release.
This may sound good...“As our financial reality has shifted over recent months, we have an opportunity to drive value for our shareholders in many ways, including eradicating dilution risk by being proactive in addressing outstanding liabilities,” noted Alonzo Pierce, president and chairman of ISW Holdings...but without explaining how it was done it only adds new questions.
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