Jun. 19 at 4:33 AM
$VBIO $TIVC $STAB The 3i LP convertible notes have a floor conversion price of
$2.30. At this point, the stock getting there feels about as likely as me getting drafted by the NBA.
So what's Plan B? Pay the notes in cash. The problem is that cash doesn't exactly grow on trees, and if they can't come up with it, default starts looking like a real possibility.
Then comes the classic micro-cap movie: creditors get the assets, shareholders get the life lesson, the business reappears with a shiny new name and ticker, and management acts like it's a brand-new adventure.
Same cast, different ticker. 🍿
