Still think MOST of discover's series C shares is a scare tactic.
They are already well compensated from that first round of funding to acquire S800. (as trek said)
-They converted over $1M on the original loan, like trek said.
-They Play both ends against the middle by selling into the pump and then taking short positions knowing it will fall with the dilution for years.
-Then, they extinguish $3M+ for 1.5M shares of series C convertible into 15B shares of commons.
-Which they then converted some 4Billion of.
-I think that number is significant. I think Discover wanted to convert enough so that they are at net $0 exposure before letting it breathe. 4B would have been roughly $3M in dollars or so...
-The lawsuit kept mentioning "excess of $75,000 in losses", yet they get over 72,000 series C shares? That would equate to $360,000 if converted at 0.0005. Maybe they plan to convert them at 0.0001 cause that would be roughly $75,000
-But why would Discover be so worried about getting that $75k to $360k if they are shelling out $1M for just 10,000 series C from time to time?
I think it's all part of the scare tactic. If G and Discover actually are working together, when they are ready for it to run.. after G gets his shares, and well Discover already has been well compensated as noted, Discover could pull something like a Series C cancellation and return those to BYOC's treasury, but something like this would only happen during a flurry of good news to boost the price so Geordan's holding of Commons increases and Discover will still have 200,000,000 they could convert from the $1M rounds.
Discover would rather convert 200M at $1 vs 10B at .0001
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