IMO that does not have anything to do with the (temporary) pullback. Stock was moving down to fill the gap well before 8K showed up. Let's keep perspective here: Infrax has purchased all of the assets and future revenues of a multi-million dollar company. It has to be paid for with something. Would you rather they take out a huge derivative-based loan? Being a young company they couldn't have sealed the deal with series A shares. Terms look quite reasonable - to my eyes at least.
You should have added this to your highlighted comment. Series B Preferred shares will be convertible into restricted common shares under applicable securities laws. pr
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