The officers even jumped on the investment saving white knight wagon cause they saw the $. At the common share holders expense.
Now don't get me wrong there is money to be made just not as much as people think. And yes the staff deserves to be compensated however they have been drawing salaries for work and now will reap huge profits for very little risk.
Here is how it breaks down:
Current outstanding: 36.8 Million shares micro cap status
Now if you up this to 6 billion and they will cause they have the option too (fine print have the option to not the obligation to buy additional notes). And why would you leave profit on the table when you can just walk up and take it. Buying in at .01 cents per 100,000 shares.
Now some people say but what about the 15% well once the approval comes in if they exercise their option to convert they can turn around and sell that stock at lets say .02 cents and make 100% in months compared to at 15% a year.
The rest of use will make money if people still want to buy in and speculate about really long term. But it will not be at .10 cents and why? Because if you times .10 cents times 6 billion it will be 600 million moving the stock up two classes. Possibly yes.
Likely probably not. Why: the supply of the stock will override the demand of it through the sell of the additional shares which can be exercised at anytime. In essence more selling than buying which will at a minmum keep the price of this stock low. Can it see .10 or .20 cents sure. Just not as likely as people think or as easy. It will depend on when the convertions are done.
Not very ethical on managements part considering 15% is a steep loan to begin with but to throw in the option of converting to stock at .01 cents that is just greedy.
This is a long play but not that long. Their year end is on 12/31 and as per FDA document, descission should be out some times in 1st quarter which is 03/31 so it can be any day.
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