Yet another complete mischaracterization of what that term sheet says.
Here’s what the term sheet really says. They are not buying stock at $0.01 per share, the toxic lender is buying at 80% of the market PPS. If the PPS is above $0.01, then the toxic lender is obligated to buy the discounted, free trading stock when the company asks them to. If it is below $0.01, they are not obligated. They may choose to buy some anyway if the latest pumping campaign has created enough liquidity for them to make their instant profit, but they don’t have to.
They won’t get the first penny of financing from that deal until they process a registration with the SEC as the lender requires to be free trading immediately.
And where will the cash go? Check out page 21 of their latest financial report.
$800k to the contractor CEO, $250k to the former CFO, $150k to another former officer. These guys will take the cash, pay themselves a handsome wage for “running” a completely dead company while the toxic lender dumps the shares into the float.
The master have spoken all I do follow his lead and made money on 98% of his pick already. DGTW history will be huge one of the best comeback of OTC market
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