With probably one of the most important announcements and decisions made by this company yet, only 4 people have made a direct comment,2 for and 2 against.
What are some other views?
One immediate thought is that they have already issued $460,000 worth of CNs @ 15% with the first payment of $69,000 due on 31December 2018, 6 months away. That's in addition to receiving $444,444 from the shares issued to date.
(a) Why did they issue those CNs now with the clock ticking @ 15% from 28 June when they already had $444,444 in the bank?
(b) The logical answer would be that they needed as much cash as they could get, from any source, ASAP. Why? Something to think about. I know what I'm guessing.
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