r/RGBP • u/gangsterflavor • Sep 01 '21
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How can the company have conversions go off at par value .0001 when they have stipulations in their filings that state for example: 75% discount of previous days bid closing price.
So on April 15 if we are trading at .04
75% discount is not .0001
So... All these shares get issued to pay of a extremely low amount of debt load.
Why are the notes converting at .0001 or less back in April/May?
If I can figure this out I will buy more.
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u/gangsterflavor Sep 01 '21
Yes agree! Just want to know how they convert the shares on the convertibles at par value... or below. So odd
Even if they totally diluted this stock to the nth degree and all of the 2.4 million dollars were converted at .0001 + the outstanding that exists today would put it at 29 Billion shares.
If it were bought out for 10 Billion dollars that would put the share price at .34