Does not look good to me. I'd rather they do a share buy back and reduce the OS. I'm holding on to my shares unless my understanding changes drastically.
Look at their example in Q&A. IF the PPS were to be $.05 and you had kept your 1 mill shares you'd have $50,000 or the $.50 example you'd have $500,000.
Reminds me a lot like what PAIM offered. Although they converted to convertible debentures, it appears the same. However, it was changed in mid stream and I lost $3,000 on that deal.
I'll NEVER allow myself to own anything restricted again. Just my opinion.
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