This is V GOOd-See the Note Status Here
I asked one of my boys to look at the filings and do a quick math on the notes that you can see below.
Here is the summary:
1) They had some nasty notes that they paid off aggressively
2) The bad ones had 51% discount with a severe penalty that had defaulted all paid off.
3) They are so strong now that they are able to negotiate 20% discount only
4) Notes below a), d), e) (this was the ugliest of all) were all paid off
5) This is end of April. By now it is most likely other notes have been paid off as well
6) The CEO holds about 50 million of the same shares as you and me
7) This company could be worth $200 million in sort order
8) It is the old notes from 2013 and 2014 that caused the sliding of the pps
9) No idea what the OS is now
10) This could be serious ground floor-time will tell.
Just sharing if this helps.
I will be taking a long term position today and see what happens.
Convertible Debentures on Jan 31, 2017
March 20, 2017- OS 158.17 million
a)December 17, 2013 = $32,500 - Paid off
b)May 21, 2014 = $37,500 - Bal - $17,440
c)May 23, 2014 = $40,000 – Bal -$38,477
d)May 17, 2016 = $10,000- Paid off
e)May 17, 2016 = $33,000 – Bal ($5,915+$23,437) - $2802-$3071-$3220-$3529-$3874-$4185-$4600-$4071=Bal 0=Paid OFF
f)June 13, 2016 = $69,000 – Bal $69,000-$5082-$5375-$5375-$7095=$46,073
g)July 21, 2016 = $56,750-Bal ($9,190+$47,340)-$1020-$1267-$1549-$1706-$4417-$4452-$5695=$36,424
h)Aug 18, 2016 = $27,000 – Bal ($25,909+$1,091)-$2500-$4700-$4750-$7475=$7575
i)Nov 4, 2016 = $55,000 – Bal ($13,260+$41,740)=$55,000
Fools argue to win, so stay away from them and still say Thank you.
Smart people argue to seek the truth and say "Thank You" when they find that they are wrong.
