SMH...you guys are killing me! Yes your calculations are right IF $100k was the amount...BUT it was only $95,529 left on 12/31. They already made their first payment in 2015. So the balance left on this note when the 10-K came out was $1,897...NOT $6,3XX. It's a small amount, but you're off. Look at Note D in the 10-K. It's $95k+ left on 12/31 table...not $100k. Do you agree yet?
I pinged the company to figure out what their plans are with Note A and why we are seeing dilution if all the notes are paid off with maturity dates anytime soon. We'll see if they can tell me anything?
Sorry I didn't answer earlier, but I give iHub enough money and don't want to pay for unlimited chat (i'm cheap lol).
In some regard, I think all of our dilution posts are freaking potential buyers out? I think it's good to note that we will continue to see moments of dilution based on the payments we see with Note A. However, post after post about dilution and notes may not be best? LOL
In regards to Note A, I calculated the current total to be $669,290 left before today (unknown if today's t-trade went towards this?) They are also paying the interest with each payment, so even though they are paying down the principal, they also pay a 18% or so premium on each payment (see 10-K for specifics on each payment...1/19, 2/11, 3/7, 3/21).
I don't think there is a way to fully know what's going on or what's going to happen. The company can do us all a favor with a PR stating next steps to eliminate toxic funding (totally agree here). However, the lenders seem to be in control of the conversions. Best situation is to do an equity placement with North River and take out these other lenders.
Ok, this is my last post on the notes for a while until I hear more from the company. I think we have a good grasp on the risk with dilution moving forward. Again, company not hiding anything...just slow to get private funding initiated.
Lastly, the Company forecasts cash flow from operations during 2016 may begin to provide capital to support on-going operations.
While no assurances can be given regarding the achievement of future results as actual results may differ materially, management anticipates adequate capital resources to support continuing operations over the next 12 months through the combination of infused capital through exercised warrants, infused capital through non-public private placement, forecasted working capital from operations, and existing cash reserves.
I think sales and private funding will be huge here soon! Just need to keep on keeping on for now.
Nice to see higher lows the last few days too. Slow and steady climb coming...
$AWGI
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." - William Feather.
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