Sure, it might be common on general loan covenants. What's not common is a Chairman throwing shareholders under the bus for personal gain.
PH has no incentive for any sort of IMU recovery, he's continually granting himself more options as the price tumbles. He's putting his IMU equity to work elsewhere, where he expects to see a return.
IMU Price at posting:
4.9¢ Sentiment: None Disclosure: Not Held
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