The $2.1 million convertible financing with YA Advisors has no 'floor' price, it is called a ratchet convertible. In the industry, its called a death spiral convertible - not for the company but for the shareholders in the longer term if that convertible does not get redeemed at face value for cash. On Friday, another debtholder, Dominion Capital LLC, converted its $535,000 debt (issued last August) instrument into one of these ratchet convertibles with a new face value of $746,000 with the same terms (or similar) to the $2.1 million issued mid March. Its only a matter of time before an avalanche of shares start hitting the market. SVFC might be setting up for a bounce here, but I'm betting its only going to be a small trading bounce. Then look out below!
I think I read they are extremely well positioned to get multi-million grant funding for studies? That would totally erase any finance debt if ti comes down. I think we would hear something by end of month. Stay positive it might all work out perfectly.
LOL, Dr LookGood can't even get FDA approval, let alone 'multi-millions' in grant funding. Even so, any funding for research would have restrictive covenants so the funds are used ONLY for research and not to repay any previous bad debts like SVFC and the Dr. have accumulated over the last couple of years.