Lol.... I posted on HC first. Well done on your research.
And, my research.... hmmmmm… already done my friend. More than you know. Let me know when you pop up in a Top 20 and your company does this type of "convertible note"...
This type of finance is measure of last resort.
Its always the same.... history repeats. Management always spruik that they can be repaid, blah blah blah.... but they never are, and massive dilution happens as the Note holder constantly sells into a lower and lower share price.
Can't count how many times this happens. Maybe 1 in 20 doesn't end in a death spiral. Not good odds in my book.
VEC Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
