Any note that has those terms can be labeled "toxic" out of the gate. Its the equivalent of a really bad "payday" loan.
And even if Thiago thought...oh, I will just pay it off with the two million...it would just make him look like a moron.
And Humbl has already demonstrated a complete inability to manage things. The stock has been diluted to the low trips. Pretty much every deal that Foote did has been rescinded or unwound.
Its not even clear what actual assets they have right now. A pile of fertilizer? Some stock in a private company?
Hey...but at least we are not talking about the very questionable "Settlement Agreement" between Humbl and Sharp. 😉