Here's the reality....
Current YPB market capitalisation is $2.23m.
Adding the $500k that JH is about to put in, this brings JH's cold hard cash contribution in the last 15 months at about $2.15m (assuming that the $1m convertible note issue with interest charges of between 16.73 and 17.48% has added another 150k to that amount to be repaid).
JH and entities under his control are owed an amount so close to YPB's market capitalisation- he is owed almost as much as the company is worth.
JHH, an entity under the control of JH has a charge against all of the assets of YPB, and come October 3, could exercise its rights by seeking repayment of the loan rather than a swap of debt for equity. With YPB having no hope of paying out the convertible note issue, JH could bring on a VA.
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- Ann: Update to Placement Announced 20 March 2023
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50 | 140612059 | 0.1¢ |
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0.2¢ | 6251119 | 7 |
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0.003 | 13805985 | 23 |
0.004 | 3045677 | 11 |
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