I sold today attempting to break even for which I was successful. My reasoning for selling is that the company issued on March 8, 2023 convertible promissory notes to the following:
Capitalize Ventures LLC - $766.64
Goldberg AG - $160,458
Pascal Siegnthalert - $79,241
The maturity date for all 3 convertible notes is September 8, 2023. This is a significant amount of maturing convertible debt that is listed in the recent financial report for period ending June 30, 2023. If the note holders choose to convert all the said debt the OS would ballon to 16b. This information is also listed in the financial report. I'm not expecting them to convert all of the debt as it would change control of the company which is not allowed under the conditions of the promissory notes. However, the threat of any such conversions on and/or after September 8, 2023 will not be beneficial to existing shareholders.
Please understand that this is only my opinion based on my interpretation of the information in the financial report for period ending June 30, 2023.
I would appreciate if others would read the financial report, concerning debt, and let me know if you come to the same conclusion. GLTA
Snoof77
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