Letter sent to Prometic
We have 736M outstanding shares. The latest round of financing is a huge disrespect to CURRENT SHAREHOLDERS. This 20 to 1 share purchase effectively means we as share holders are buying a share for $0.3042 per share. If everyone was ALLOWED to buy shares at this price we would raise $223M. Instead, you have allowed Thomvest to convert their debt at $0.01521, resulting in 15B shares issued. You are only allowing 33% of CURRENT SHAREHOLDERS to purchase shares at this price, effectively guaranteeing Thomvest majority control of 72.5% for $229M. Resulting in only 25% of company 4.9B shares compared to 20B shares to be issued. Interesting that 66% of shareholders will have their holdings reduced to 2.5% of the company. 491M shares compared to 20B shares to be issued. Legal action will be pursued if the $75M cap is maintained for current shareholders. Ask yourself, what would you do if you were a retail investor and you were treated like this by a company you have been invested in since 2012. Please explain how you can treat your shareholders like this.