I’m just stating facts.
I have a reason to believe that this was one of the few companies that used the expert market “grey area” to their advantage and I have to commend ray watt and Aquino for the decision and quick thinking.
Not many people, including the CEOs and board members of most of the otc companies, actually used the expert market transition to their advantage. MOST of them got fooled into thinking they were forced to sell more shares or convert quicker but some caught on that the rules made did NOT put them in harms way for notes that were in the process of converting. Without a bid or ask to quote, they cannot legally be given any shares and if the companies had revenue they would have been better served to use or refinance their current scenarios to beef up their balance sheets. Less dilution is a big deal with any investment.
Series A and B funding thrives from a tested product or service that could be taken public but they are last to get diluted. The real heavy dilution comes from a VC stage of funding where the company was in startup phase and anybody needing to raise capital after the Vc stage gives up equity which dilutes the VC funder. Once series A and B comes in, they pay the most and get the least amount of equity due to practically being on the way to either a higher valuation or publicly traded via IPO or Reverse merger
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