RE:The price HAS to stay below $3 until financing is completeShares are alway issued below market value. Look at Tesla.
SEC doens't care how much investors will pay for financing. What a hell are you talking about? Read a finance book before you invest and pretend to know something about the subject. This is how bagholders are created.
zenith9 wrote: I know this sounds dumb and all but there is a risk the financing doesn't get approved by the SEC if the price goes above $3. I think this is just bad timing on the part of Frank, he was probably expecting a dip after the big run up but didn't expect the quick pump in bitcoin and ETH so now he's in a bind. I suspect he's frantically trying to keep the price below $3 until the financing is closed. Otherwise imagine a company being allowed to issue shares at below market value if this was trading at $4 or $5 for example....wouldn't look good.
I know this is obvious to some...but it took me a while to digest this. So once the financing is complete (hopefully soon) we should see the price significantly rise. I don't think it's short selling in action. Just suppression tactics until the deal is approved.
Hopefully that helps the Convertible Debenture noobs like myself...