Sphere 3D Corp. (ANY)

[Hugodrax]

Cyrus loan at a 20% rate!

Wow really putting the squeeze on these guys. Per the 13D/A filed today. The loan is at a 20% interest rate payable in cash monthly. On $2.5M that is $41,667 added to the monthly burn.

But more significantly is that the loan starts to amortize in January so they have to pay back 1/12 of the principal each and every month in cash. That works out to $208,333.33 per MONTH in cash principal. So starting January this basically adds over $600K per quarter to the cash burn.

Obviously Cyrus doesn't seem to care much about their common shares at this point.


IMHO......


P.S. how long does this last them, like 6 more weeks?

Let the asset fire sale begin?