They can dump these at 0.5 cent giving them 66% profit and 0.4 cent at 33% profit. Raise more at 0.3 cent and repeat... on the other side Peter will get his $425,000 while the company is close to bankruptcy. If the company goes bankrupt Peter will disappear with his money and the assets will go to the convertible note holder. Otherwise, the company may have to raise at 0.4 cent issuing like 0.5-1 billion shares for the next year.
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