Yes that is right. One item on the new note, prob

Yes that is right. One item on the new note, probably on the old note, I would have to check, it is the lowest bid over the last 20 days. Also, they redeemed more than 350k in March (but didn't redeem in February or January). So I assume they can let it build and redeem the full amount at one time.

For the first note, they loaned 5.7m on the first note, but charged .7m fees (only gave $5M), converted over $1M interest to shares and still owed $5.4M on that note in April. It looks like they convert just the interest, letting it build, and then sell into spikes (we will see if cydy opts to pay shares instead of cash this next time).

Over the last 20days the lowest bid is either 38c or 37c, so they can redeem shares at 32c and sell at 48c right now. That is 50% profit right now. So you can see how these spikes make the most profit target to sell into, causing the bouncing action.

I agree they can not let both notes convert or need more volume to handle both notes at the same time.

Quote:

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The Investor may redeem any portion of the Note, at any time after six months from the issue date upon five trading days’ notice, subject to a maximum monthly redemption amount of $350,000. The Note allows the Company to satisfy its redemption obligations in shares of Common Stock, in addition to in cash, with the shares of Common Stock valued at a 15% discount to the lowest bid price within the 20 trading days immediately preceding any redemption notice to the Company. The Company may prepay the outstanding balance of the Note, in part or in full, at a 15% premium to par value, at any time upon five trading days’ notice.

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