In fact, the amount of convertibles outstanding is the least it has been since 2012 and the facts on that are on my side at this point. Maybe the 10K will reveal more convertible financing, but I haven't seen one yet.
I've done my homework on it. A note payable to an officer would be relatively favorable, so I'll concede that. It still has nothing to do with skin in the game. It's all about risk to the banks. Hence, the note would be subordinated. Now I need more answers. Time for an email.
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