Kelt, Leo can’t use Aspire because the SP is bel
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Posted On: 10/11/2018 4:33:47 PM
Kelt, Leo can’t use Aspire because the SP is below 25 cents. He has more control with Aspire because he can sell a specific amount of shares when he wants to, plus Aspire can’t short. This MFO prevents Leo to go back to Aspire even when the SP is above 25 cents.
I don’t mind the 10M shares or so dilution in the first round of financing. It’s the subsequent $7.8M warrants that worry me if partnership talk drags on and Leo can’t buy back the preferred shares and cancel the remaining warrants. The stock will be at the MFO’s mercy if they can convert 40M or more shares.
I don’t mind the 10M shares or so dilution in the first round of financing. It’s the subsequent $7.8M warrants that worry me if partnership talk drags on and Leo can’t buy back the preferred shares and cancel the remaining warrants. The stock will be at the MFO’s mercy if they can convert 40M or more shares.
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