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piggy99

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piggy99

Re: andrewflying post# 429

Friday, 10/14/2016 12:02:41 PM

Friday, October 14, 2016 12:02:41 PM

Post# of 1067
Here is my view

They had $140M in loan.

The new loan agreement is as follows.

$70M in new debt at 10% interest
$70M in shares (6.4M issued) (approx 11 per share)

The also got a new loan facility of $30M and for the privileged of having the facility they were gave 2.8M shares. Just bear in mind that if there was no re-org, this company would have gone under. It is the cost of doing business. ($30m/2.8M = approx 11 per share)
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