I think what that's saying is Marc recently defaulted on giving shares to the noteholders so the noteholders got their attorney involved. I asked ChatGPT and it agreed with me. It's a great tool for investors when trying to decipher language or check if your assumptions are correct. I use it all the time.
What happened or will happen after the attorney's letter was received, we'll see, but Marc definitely does not want to dish out 15+ million shares at current share prices because those can then be sold and I'm not sure he can fit that plus a potential offering under the authorized share cap anyway. Hopefully he can come to an agreement with the noteholders to extend the deadline again now that there may be significant catalysts in the pipeline. Or maybe he could pay them in cash, which would not be optimal because it would obviously take money out of a raise.
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