NanoViricides Inc. (NNVC)

[loanranger]

"assuming the owners of the series b shares take the cash payment, what will there cumulative ROI be on this $6M?"

I won't be doing that math, but I'll provide what you need to do the math yourself.
The owners were entitled to:
1. Coupon interest of 8%.
2. 3 payments of "additional interest" (which I believe they have received) in common shares as follows (per payment):
Boniuk Interests 190,477
Boniuk Charitable 190,477
Vivien Boniuk 95,239
Robert Gold 47,620
David Gold 47,620
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108956514&txt2find=series
3. Warrants for shares in numbers equal to those above, exercisable at $3.50, which were scheduled to expire in January of 2016 and I believe did so (value $0).

I can't help myself:
Just ballparking, we're looking at 570,000 x 3 or 1.7M shares...current value if sold today would be $1.9M. 8% simple interest on $6M for four years would be, coincidentally, another $1.9M.

So the $6M loan would return $3.8M in 4 years under the above assumptions. Not too shabby, but I would submit that it is FAR less than the lenders expected. The share price on the date the agreement was made wasn't today's $1.14, it was a split adjusted $1.68. They couldn't have known it was coming at the time, but the price ran up to the mid $5 range during the next seven months. Had they participated in that their return would have been freakin' awesome instead of just well in excess of a normal market return. Anyway, I think that they got less than they bargained for in share value.



There is one statement in the original 8-K that I haven't quite sorted out:
"In addition, upon Redemption, the Registrant shall issue to the holder warrants (the “Redemption Warrants”) to purchase a number of shares of Common Stock equal to the principal amount of the Debenture multiplied by 0.33, at the exercise price of $1.00 per share, which shall expire three years after the date of issuance."

(Upon redemption is earlier defined as "the Maturity Date")
So it seems as if the lenders will be receiving some fresh warrants, exercisable at $3.50 and good for 3 years, on the day that they get their $6M back. Time will tell whether they are valuable.
I'd be a little surprised if the cash requirement at 1/31/17 didn't lead to a rollover or new loan, maybe from the same people.

BTW, I was never able to find a filing of the Form of the original loan agreement. I would have expected to be attached as an exhibit to the 8-k and I believe that it should have been.