Got to be somebody big... given their history to think this is financially viable using their distribution channel. That's the only way this makes sense...Companies are not throwing away big $$$ these days..
"The co announced that it entered into a definitive securities purchase agreement with a healthcare dedicated institutional investor in connection with a private placement of 13,800 shares of Series C convertible preferred stock at a price of $1,000 per share, and two series of warrants to purchase an aggregate of approximately 10.8 million shares of common stock at an exercise price of $2.30 per share."
The IRS requires that distributions from a Roth IRA be taken in the following order: contributions, amounts converted or rolled over from other IRAs, and then earnings on amounts in the IRA. Contributions to the Roth as well as conversions from nontaxable accounts can be withdrawn without taxes or penalties at any time.
If you are younger than 59 1/2, or if the account has been open for less than five years, distributions of taxable conversion amounts and earnings are considered “non-qualified distributions.” They might be subject to income taxes and early-withdrawal penalties.