Convertible Debt HolderThe agreement for the convertible debt was signed in May 2021. Based on the timeline and incredible persistent dumping of shares and reloading at low price levels that destroyed the shares before the consolidation, it is very obvious that the holder of this convertible debt was highly upset and as such wanted to damage the company and shareholders.
The agreement was entered into immediately after the company announced visible gold in May 2021, clearly showing that the holder was initially excited but later lost faith in the this management and was thus wanted to hurt the company and cause as much damage as possible to all the shareholders.
As long as the debtholder can dump all it shares, it can reload more shares at a much lower price and can repeat the process over and over while ensuring that in each cycle of the dumpling & reloading, it does not exceed 10% of the outstanding shares.