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"""April 28th is absolute of no concern for ANY. They will resolve it has they always do. """
By issuing 10s of millions of discounted shares and granting massive warrants to their cronies and even short sellers?
Sounds like a great long thesis.
PS April 28 is Friday!
Reverse split and delisting minor issues now. Opus gave them a April 28 deadline or they might pull the plug which would trigger a cross default on the entire debt stack. If I were the lender I would put it under immediately so they can use the remains cash on the balance sheet to work the Chapter 11,7, CCAA, or receivership.
Having said that I think Opus Bank is dumb so they might just extend it.
All that matters now IMHO is survival.
Frankly I don't see how they can survive without a restructuring.
All IMHO and speculation only.
LOL
This is what you are concerned about now?
How about the fact that the bank has given them a April 28 deadline which is literally 48 hours away?
Got Sherlock Holmes all up in here about MS OEM deal. This was PR'd in 2014 my good chap:
http://sphere3d.com/sphere-3d-enters-multi-year-oem-embedded-agreement-with-microsoft/
What matters now is solvency, frankly.
IMHO.
Don't leave us hanging, man.
A director resigned on April 14. The company sat on the news for 5 days.
Is this is the big short squeeze the company was promising on its facebook page a few days ago?
The Art Of The Deal - Steve V Style:
https://twitter.com/Keubiko/status/854374609457750017
What "hit" ?
What, specifically, is wrong with the article?
Oh, this must be the NXO article people have been discussing:
https://seekingalpha.com/article/4059844-nexoptic-making-spectacle
Don't forget "it's a long weekend and everyone needs to get to their cabins so let's end this thing"
"Creamer's Engineering News"
Heh.
DD - didn't you learn your lesson on ANY? Remember all the "reviews" and articles from Simon Bramfitt, "CIO Review" and tons of others?
Remember how Microsoft "blessed" everything and VMWare put out marketing videos?
IMHO you need to learn about what matters and what doesn't.
My advice is to learn from the past....
IMHO....
"""Just have to ask yourself why would Global News report on a company unless they have done their due diligence and know it works."""
Right, because the local TV station spends $10s of thousands on due diligence consultants before running a puff news spot.
All clear, folks, "Global News Vancouver" has done their DD and says "it works" and "it's real".
Thanks for the nyuks.
And pics that were "processed" lol.
Notice how they didn't release unprocessed ones?
Correction. They claim the pics were taken in March so they only had a couple of weeks to process them.
Actually the PR today states that they will be using pictures from Arizon that were taken on Feb 7, two months ago.
They also state in the PR that the pictures will have been enhanced through various "image processing techniques".
"The images, recently taken in Tucson, Arizona were processed using Spectrum's algorithms created for Blade Optics™. These image processing techniques will be applicable for future applications which incorporate Blade Optics™; details on these processes will be available on NexOptic's website along with the published images."
Of course you do.
Pete - he said "sales are declining". I realize now he was talking about GoPro and not NXO. Thought I was correcting him.
I am not optimistic about NXO. I have spent a lot of time on it.
That is all for now.
Good luck and manage your risk.
Yes the stock is a zero with 100% probability I've been stating for 9 months.
$2 BILLION in bondholders are recovering $16 MILLION.
Only a fool would own this.
There are no sales.
In my experience in these thing there is a run up to the "event" and a massive puke afterwards.
Going concern notice from accountant. Opus is giving them 4 weeks from today to refinance the loan or hire a banker to unload the company.
Cancelling the CC is a massive red flag IMHO. Companies that go under start going radio silent so they don't say anything misleading that could bite them.
IMHO there's a very high chance of a zero in the next 90-120 days. I suppose they could do a little more toxic financing but that won't help existing folks. IMHO.
Hah they aren't eve going to have a CC!
Lol.
ANY always seems to like putting out some low-detail "deal PR" when they report crummy results (which is every quarter IMHO). They have untel end of day tomorrow to file. My guess is they file the financials on Friday night.
IMHO
Don't take this the wrong way, but one of my strategies to to follow investors that I view as unsophisticated, gullible, and prone to get right quick schemes etc. from company to company.
This one caught my eye as a bunch of guys that rode $ANY into the dirt started buying it. Been watching for a while but now the valuation is silly enough (IMHO) that it's interesting.
Pretty simple.
I also follow management teams around but they move much slower than bagholders.
Nobody.
Lucky MacFarlane. Unloading stock and then reloading a few days later in the $0.22 plus $0.30 warrant deal.
https://twitter.com/Keubiko/status/846785284767436800
Check my track record.
Equedia is paid by Nexoptic.
I think that is or was only on "unbrokered" placements. If so he wouldn't have been paid on this week's dilute-a-palooza which saw Roth pocket $375K or so. Perhaps on the last round that seems to have lasted from Dec to Mar.
The most surprising thing to me is that Cyrus hasn't been dumping rheir stock. I'm guessing they are privy to the events unfolding and locked up?
I've seen a lot and I am literally dumbfounded here.
How can you default on your bank debt in October 2016, not get a waiver for two months, have the bank accelerate the due date of $18M in debt, have the bank demand further equity issuances, and literally say nothing about it for 5 MONTHS? How is that NOT material to investors?
It was Opus that forced them to raise the money on Dec 30. If they didn't the $18M would have been instantly payable.
We also learn now that they kept that financing open until March and were still taking in money.
It was Opus that demanded they raise this $3M by Mar 31.
Opus is only giving them until end of April to do a bunch of stuff and the debt is now due June 30, in 3 months!
IMHO the only question now is how much of a haircut Cyrus and even Opus might take.
Printing 10s of millions of shares and warrants every few weeks isn't the stuff dreams are made of.
I said it all along, Cyrus resigning from the board is the telltale.
Now it looks like we are at the endgame. $45-50M in debt and frankly I don't think they business is worth half of that. Just my opinion.
Opus itself is in big trouble now so don't expect mercy from those fools.
All IMHO.
Useless and irrelevant gibberish. Just like the last time.
Chairman is dumping stock relentlessly in this:
https://twitter.com/Keubiko/status/845358537190653953
>>>If they did then they must file Form 4 with SEC. Don't see any.<<<
Wrong. They trade on the Toronto venture exchange and only need to file with the Ontario Securities Commission at www.sedi.ca
There is dumping galore.
I recommend "Dead Companies Walking"
It's a great read.
The company has to report results next week. I wonder if they'll even bother to have a conference call. Certainly won't allow baggies to ask questions. Probably just a dumb Q from moron Hubert Mak and maybe some hump at Roth given they just got paid $375K.
Opus also jacking up the interest rates as of March 31 to 7.25% on the revolver and 7.25% on the term loan.
Also demanding that asset sale proceeds go to pay down the Opus debt.
Also of note in the third amendment:
"on or before May 1, 2017, an executed engagement letter with an investment bank or other financial advisor, in either case acceptable to Lender, with respect to a proposed sale by the Loan Parties of the [***] of the Loan Parties, which engagement letter shall be in form and substance satisfactory to Lender.”
I wonder what the [***] is.
From the 6-K it looks like they started defaulting on the Opus debt on October 31, 2016.
How do y'all feel about learning this 5 months and -61% later???
My question isn't so much why is it down 28% to $0.21, it's why it isn't much lower?
Don't forget the 100% warrant coverage.
Opus had to waive defaults on December 30 (presumably this is why McFarlane had to pump in that cash that day).
BUT
Opus accelerated the maturity of both the term debt and revolver to March 31, 2017!!!
And they didn't disclose it until today! They also repriced the Opus warrants from $1.30 strike price to $0.01 (# from 1.5M to 862K)
However on March 12 they got a second extension but only to June 30 if they raise $3M+ in cash by March 31 and stick $2.5M of it into Overland's Opus Bank account. This explains today's offering.
If they don't meet monthly revenue and EBITDA targets AND get a term sheet from a new lender by April 28 (a month from now!) or hire an i-banker to sell a "significant portion of the Company's assets" the loans are immediately due and payable.
IMHO we are basically at end game now. Opus wants out, and Cyrus is next in line for the next $25M or whatever. Tough to see a scenario where equity survives.
IMHO.