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Also, this is a 100k convertible line of credit. I don't know they're conditions, but Bootup Labs could easily use a convertible note to their strategic advant
by jetsnoc 17y ago
Also, this is a 100k convertible line of credit. I don't know they're conditions, but Bootup Labs could easily use a convertible note to their strategic advantage... For example, bankrupt the business, take more ownership, or strong-arm a board position by offering not to covert the note.
- myprasanna 17y agoIs this true? Can someone with more knowledge of convertible line of credit, comment on this?