convertible notes is bottom of the barrell financing.
How is that a good result?
Not only are they issuing convertible notes, otherwise known as the death debt spiral for companies,
Basically any shares are issued to the convertible note holder at a discount to whatever the current share price is, they then can dump these shares on market for an immediate profit. There is a reason why they call this death debt spiral. Worst type of financing available, basically kills shareholders, but as always keeps management paid for another little while until they wind up the company.
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