BAYERN is named 5 times in HIRU's Q3..>>IF<< that $1.4 million debt is allowed to convert into common it will, IMO, result in a classic death spiral.
AS I UNDERSTAND THESE THINGS, and in my experience, such conversions typically happen in ''tranches'' of just under <10% of the amount owed. The note holder [i.e. Bayern] presents the legal contract/note to the T/A [also a defendant in the suit] which compels the T/A to issue shares cover the amount the note holder wishes to redeem [in this case roughly $140,000]. Based on today's price of 0.0032 per share that equals 43,750,000 shares to convert 10% of the note. Since HIRU only has 40 million left in the A/S, the company is legally forced to INCREASE THE A/S to cover the rest.
As those shares are dumped, the share price falls. After thatt the note holder can demand a much greater number of shares with the next tranche in order to ''true up'' the debt s/he is owed. So if the stock has fallen to, say, 0.20, the next tranche will require 70,000,000 shares which the company will also have to print. When dumped, the price falls even further, the pattern repeats resulting in a devastating death spiral. The end result being an O/S potentially at or over 100 billion and a price at or below .0001.
I've seen a couple of tickers ruined by toxic notes as low as $25k. Typically the holder refuses a simple cash payoff. That's because there's so much more money to be had thru these toxic conversions. HIRU's financials show it was littered with them. HIRU's old management got instant cash in exchange for the promise of shares at a future date...no matter the PPS or whether the company had enough to cover the demands.
GET ON YOUR KNEES AND PRAY THAT MIRO LOSES THIS COURT BATTLE. Otherwise it could wind up at 0.000001 like some others I've seen.
I'M NOT SAYING THAT ''WILL'' HAPPEN HERE...but court rulings can be unpredictable as OJ Simpson proved.
Things like this are why it's so risky for newbies to try and go public ''on the cheap'' by reverse merging with a burned out ticker/ shell. Buried skeletons often get unearthed and land mines explode after the fact. And sellers of shells are usually far more experienced, crafty and crooked than inexperienced buyers
Buy a shell and you also own all liabilities --hidden/ disclosed or not--as the Qatar dudes are learning the hard way with this costly, protracted court battle with Miro & Co/Bayern.
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