Who has got the upper hand Company or note holder, page-2

Hi chand

I take your point about the preferable route of raising equity from existing shareholders.

But how might PHK now stop the convertible note holder converting at a very cheap share price? I didn't see that wriggle room in the contract.

BTW I thought PHK's original claim that the note holder approached the company rather weak. What? Was PHK tempted by the cash? My mind went back to my Sunday School days, and the account of the fall in the Garden of Eden, after Eve had eaten the forbidden apple: And the Lord God said unto the woman, What is this that thou hast done? And the woman said, The serpent beguiled me, and I did eat.