John Fife's gotten 9.8 million shares Apr-Aug as c
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Posted On: 08/17/2023 7:57:55 PM
John Fife's gotten 9.8 million shares Apr-Aug as conversions of his notes. For those that don't remember, in one of his most brilliant schemes Nader issued two convertible notes for $28.5 million each to Fife, affectionately known as a toxic lender, in Apr 2021 and we've been struggling to pay them off with shares ever since, and we're still working on the first note. He should go to jail just for that fantastic financial decision-making alone.
The recent selling pressure may have come from Fife selling his conversions (he usually does it immediately after he gets them) combined with the effective S-1 allowing Welch to sell exercised 10 cent warrants he got in return for providing the surety backstop associated with the arbitration.
Also looks like we raised $2.1 million by selling a new note secured by any money we get from Amarex (that's nicely optimistic) and raised $970k in a new offering that kicked off in June with the 50 cent warrants.
The recent selling pressure may have come from Fife selling his conversions (he usually does it immediately after he gets them) combined with the effective S-1 allowing Welch to sell exercised 10 cent warrants he got in return for providing the surety backstop associated with the arbitration.
Also looks like we raised $2.1 million by selling a new note secured by any money we get from Amarex (that's nicely optimistic) and raised $970k in a new offering that kicked off in June with the 50 cent warrants.
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