Posted On: 06/23/2014 1:16:30 AM
Post# of 36729
Re: StephCurry #35636
I'll throw my two cents in. From Last quarters filings:
A note for $39k was converted into 130million shares. If you run the math that means that someone got 130million shares at a pps of .0003.
So on the open market that would have been like you bought 130million shares when the pps was at .0003 shares.
But this wasn't on the open market. It was an early investor who ponied up $39k for the team early on. It was an early on investment. That is how convertible notes work. It's seed money. Early investors taking mega risk. It would have been an investor back a year or two before Skto went MMJ. A colleague(s) of jan and Art ponied up the money in belief of their dream before they went live.
A note for $39k was converted into 130million shares. If you run the math that means that someone got 130million shares at a pps of .0003.
So on the open market that would have been like you bought 130million shares when the pps was at .0003 shares.
But this wasn't on the open market. It was an early investor who ponied up $39k for the team early on. It was an early on investment. That is how convertible notes work. It's seed money. Early investors taking mega risk. It would have been an investor back a year or two before Skto went MMJ. A colleague(s) of jan and Art ponied up the money in belief of their dream before they went live.
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