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What a bunch of scammers for paychecks. Stick a fork in it. This chick is dead.
From whom? You gonna cut a $800,000,000 check to a company with a management team taking huge salaries, have a dubious past, without a current and up to date FS? Oh perhaps AO told you so. I’d start worrying about raising interim cash to payback the loan sharks and to get the FS done. Pronto. Chop chop.
It’s not me driving the price down. It’s management blunders and thier greed. Just over a year ago there were 28,000,000 shares o/s. Now officially there are 37,086,000. And doesn’t include millions of ERRC shares that can convert into NB shares. Over 58,000,000 fully diluted. Using toxic debt to pay off MS $4,000,000 loan and to give management big raises, bonuses, cheap stock options without delivering financing is the culprit. Toxic debt never found a bid that isn’t worth hitting.
Yes. It will be just more scammy bullshit that the management propogates to maintain their obscene salaries. What about the water? Lol. Just a bunch of cultists sucking on a straw.
Oops double drop.
What a gong show. Prepaying a million plus dollars in fees and interest. Giving up 600k+ $3.25 warrants. Then paying back less than 2 months later with the money they borrowed. You simply can’t make stuff up. Crazy moves.
You would think so. But the mention of a ‘grace period’ might give them an out.
Bozo fluff. As usual.
We just don’t know yet. Did they pay back with the money they borrowed at usurious rates or did they default. Or?
Probably not that worried. A decade of shareholder bids to hit probably will continue to occur. The price is immaterial. Just bids to hit counts. The only thing that ends this saga is an official decline of government bailout.
The bright side is for Yorkville and Lind. As the cost of loan was 13% for about 8 months $8mm less $6.95mm) they get an effective annual rate of about 18%. But wait. NB is supposed to pay back large amounts early. So the real interest rate is like 25%. If the equity option was used its an extra 20% and a ton of dilution. If the default happens it’s an extra 18%. It’s about 45% interest on that loan. Loan shark terms. They are that weak. Plus they had to give up 600k+ warrants at $3.25. Mr. Brightside is Mr. Yorkville and Mr. Lind. Managment too because they continue getting fat checks (cheques). And the losers are shareholders.
Niocorp paid $1mm plus in fees and prepaid interest for the $8mm loan that netted $6.95ish. Plus they gave up 600k $3.25 warrants. If they default you can add 18% to the debt cost.
“The Notes are the unsecured obligations of NioCorp and will mature on December 31, 2024. The Notes will incur a simple interest rate obligation of 0.0% per annum (which will increase to 18.0% per annum upon the occurrence of an event of default). The outstanding principal amount of, accrued and unpaid interest, if any, on, and the Payment Premium, if any, on the Notes must be paid by NioCorp in cash when the same becomes due and payable under the terms of the Notes at their stated maturity, upon their redemption or otherwise.”
Yes, that was an obeservation I noted. What a douchbag he is. Desperate douchbag.
Hey you turd droppers and other mean posters. Answer me this. Who has been right for the past decade? It has been me. Sucks to be you.
Yup. As usual Niocorp produces crap that only a securities lawyer could interpret. A fair assumption is that is yet another f over for shareholders.
There is no need to go bankrupt as long as you can dilute at decade lows by issuing convertible debt as long as there are bids to hit.
They will need bids to deal with the debt default that looks likely. An attempt to fluff up the flock. Looky here, the next shiny thing! The 15th game changer!
Hey! It is almost exactly a year since Walnuts told you your entry was perfect timing at $5.00. Douchbag and elder abuse. You can test your warrants by selling. I’m sure you will be trajically dissapointed.
Not for the management team. They are cleaning up. Smart!!! A grand a day from fish bidders. The dumb and dumber are bidders.
Well there were stated expectations of Stellantis and EXIM for the first half. That was pure BS as usual. So it’s a triple. Move goal posts back on those two and possibly defaut on $8mm debt with loan sharks. At least each of the senior managment made $1,000 plus today by hitting shareholder bids. As they do everyday.
Yes, it is facinating. The totally ugly terms of the $8mm loan are coming to roost. Do they pay Y/L back with their own money after giving up $600+k warrants? That is over $6mm warrants at $0.325 on pre rollback terms lol. Or does a director fund the due amount? Or do they default? Oh that would be ugly. The new terms would be bid bombing.
Be kind to yourself. I’ve been there a couple times.
Please tell me that you took advantage of the multiple 10 bagger plus opportunities on at least some of your position.
Well this pubco has a remote chance. But meanwhile the management team and other employees have been sluts and whores with their bloated salaries for part time work. It is sickening how they just convert other peoples into their own money. You earn large while pickleballing SW. Proud of that?
Typical junior pubco bastards. Take huge salaries and keep upping options while shareholders get decimated. Never waste a disaster for shareholders go to waste. For them.
Those are not warrants. It is the equity option on the $8mm debt. They owe $1.4mm per month cash until it is paid off. Except for August. Unless Y/L can sell enough thru the last five trade days before month end at $3.30 be able to exercise $2.75 convertible. 🤪🤪🤪🤪
I’m so curious. What are they going to do?! Pay or default. Tick tock.
Shame on you for being a brain dead cultist.
Yes. Bless them. They give you the tube to the exhaust pipe to suck on.
Wrong. The deal clearly said 120% VWAP of the $2.75 deal. Which is $3.30. Comon you have more brains than that.
You do have the equity option default event. Now it’s pay up $1.4mm or default. Simple.
You can have a VWAP for a day or any time period. It is Volume Weighted Average Price. Comon, you are smarter than you make yourself look like.
They already defaulted on the equity market option. They need cash, unless they use the cash they just borrowed, to avoid debt default. It is comedic.
Yes. That appears to be correct. I think they get a bit of a grace period before being officially in default.
I guess they could tap the previously established Yorkville line to make the payment but they’d have to alter the floor price if that hasn’t been done already. Unless, of course, they have $1.4mm left from the $6.95mm they borrowed recently which would be hilarious. Pass the melted butter please.
Sad and pathetic. You couldn’t be happier? It is just fluff.
Yet we still have that pesky loan default issue. After hours didn’t do much at all. Either NB pays $1.4mm next week with the money they borrowed 7 weeks ago (after paying a million in fees and giving up 600,000+ warrants at $3.25 lololol) or they default. Nice look for a borrower seeking funds. Y/L have them over a barrel. One thing you can be sure of is that new money to advance a project is not happy about it being used to pay loan sharks. Stick a fork in it. This chick is toast.
One thing I know for sure is that I’m going to buy some popcorn.
Comon Walnuts, the master of disaster, you gotta offer a desperate pump to avoid debt default. This was your first mining development investment you utter newby. You fell for a con job. Dumb and dangerous to others.
Comon faithful. Yorkville and Lind want their 20% juice on the last financing. You have to get it to $3.30 for 5 days each month. Starting Friday. You have to come thru! Not only do you fund the exorbidant salaries you are counted on to help avoid debt default. Probably only needs about $5 mill of fish money to pull it off. For this month alone. Lol. Pull your socks up and do your job. Time is tight.