Basically a line of credit (inc interest) with a maturity date.
Any outstanding $’s at maturity will be converted to stock at that 75% vwap figure you copied.
This gives SBW significant working capital to get product to market.
You often see convertible notes used in manufacturing......a company spends the dollars on the raw material for the product so they can produce out and send it out to retailers to sell.....they repay the notes with profit on sales of the product.
SBW Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
