the next step, page-5

$590k is the amount of the 3 notes that HAVE expired and didn't roll over. But obviously more are due any day now.

That $590k show an inclination to cash out and is likely the CNotes in question or they would have rolled over. Also in each instance a portion did roll over. This would relate to JP percentage in Monarch/Primelane.

As you can see $1mil for debt and quarterly cash expenditure is about right. And highly dilutionary.

But a compromise might occur. Higher interest rate and short term 3month extension. But that will be a bandaid. Why not recapitalise now and be done with the notes.