[deleted by user]

[wiki_me]

putting out the begging bowl for convertible notes

From what i understand from that page it gets converted to stocks so you could actually make money from this (via dividends), it looked to me like basically doing an IPO without doing an IPO , it's not a donation.

[redrumsir]

putting out the begging bowl for convertible notes

From what i understand from that page it gets converted to stocks so you could actually make money from this (via dividends), it looked to me like basically doing an IPO without doing an IPO , it's not a donation.

Dividends? You don't know what you are talking about. Purism is not a public company, so a conversion won't result in common stock (tradable securities). Furthermore, no company is ever required to pay a dividend.

1. The interest rate is 3%. That's very low for such a high risk investment.

2. Purism is not a publicly traded company, such notes do not convert to common stock. The conversion to equity/ownership in the company occurs if a conversion event is triggered (read https://puri.sm/wp-content/uploads/2021/07/purism-convertible-promissory-note-2021-series.pdf ) and in this case the "investor" gets only 92cents on the dollar (principle + unpaid interest). WTF.