Xtant Medical Holdings Inc (XTNT)

[jboatswain]

On Jan 17, 2017, XTENT issued 843,289 shares at $0.5692 per share to Brucefund, Telemetry, ParkWest funds. That's to pay the interest payment.

However, XTNT couldn't pay the interest payment to Orbimed and ROS for the notes the latter owned. Instead, XTNT gave notes for $995,700 and $564,300 for ROS and Orbimed respectively. T

PIK: Payment in kind. XTNT reissued notes for interest on other notes that ROS and Orbimed had last year. Now, the interest since then been paid off with notes (payment in kind).

"The PIK Notes are convertible at ROS’s or OrbiMed’s election into shares of the Common Stock at a conversion price of $0.7589 per share at any time prior to the close of business on the second business day immediately preceding the Maturity Date."


Anyway, this company has $140M long term debt. Forget about ash111's claim about XTNT's assets worth being $140M. In the bankruptcy court, no one will buy these assets for $140M.

EBITDA is $1M. Long term debt is $140M. Ration of Debt to EBITDA is 140. At the current rate, the company takes 140 years to pay off the debt. The only way for XTNT to survive is increase EBITDA by 10 times or so. 2017 revenue prediction is $90M, EBITDA would be like $1.5M or so.

Please do not expect XTNT go beyond $0.76 in 2017. If it breaks out from 0.75, expect Orbimed and ROS to sell lots of shares at that price.