Thursday, January 26, 2017 9:42:58 PM
I've honestly never seen a deal with 200% WARRANT COVERAGE.
LOL!
I'm guessing "MF Ventures" is Victor MacFarlane. I wonder who else got in on this deal.
Basically you can subscribe, dump your stock at potentially a 20% instant profit (36 cents vs 30 cent cost) then ride the upside on 2X the shares for FREE.
Hah. What happens in 3 months when they need (IMHO) another $5M to meet payroll?
On the surface, my speculation is what we are seeing here is EK and his cronies (eg MacFarlane) wiping out shareholders INCLUDING Cyrus who just got diluted massively on their equity - but they probably only care about their debt at this point.
Of course EK and PT can feast on RSUs to keep their dilution down.
IMHO we are now officially almost in toxic death spiral financing land.
Also note the Cyrus bridge has to be paid back almost $200K per month so that adds $600K to the quarterly burn right there.
The fully diluted share count is well over 100M now with only shares and warrants.
What a slap in the face to long time shareholders.
They should have done this as a rights offering to allow every current holder a chance to participate. Heck I would have done this deal - I'd dump the stock right away and start selling call options knowing I was hedged with warrants.
Now you have a nice fat reverse split to look forward to as well.
But don't worry. They have they amazing news of a "marketing campaign".
Wow!
________________________________________________________
Caller: But why did you back away from your prior guidance?
Eric Kelly: I am sorry? Hello?
Recent ANY News
- Form 8-K - Current report • Edgar (US Regulatory) • 08/19/2024 04:10:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 08:52:47 PM
- Form S-3/A - Registration statement under Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 08/13/2024 08:41:23 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/13/2024 08:17:43 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/18/2024 01:03:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 10:57:21 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/12/2024 08:10:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 12:36:01 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/11/2024 08:21:40 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 05/31/2024 08:06:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 10:01:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 09:31:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 09:24:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 09:15:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/15/2024 09:29:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 02:13:25 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/13/2024 09:19:03 PM
- Form S-3/A - Registration statement under Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 05/07/2024 08:38:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/01/2024 09:00:19 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/14/2024 09:31:39 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 11:22:03 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/12/2024 11:18:13 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/08/2024 02:54:40 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/29/2024 10:15:40 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/26/2024 09:19:16 PM
Element79 Gold Corp Appoints Warren Levy to Board of Directors • ELMGF • Aug 28, 2024 9:51 AM
Integrated Ventures Announces Strategic Entry Into Health & Wellness Industry with Focus on GLP-1 Products • INTV • Aug 28, 2024 8:30 AM
ELEMENT79 ANNOUNCES UPLISTING TO OTCQB VENTURE MARKET • ELMGF • Aug 26, 2024 10:03 AM
North Bay Resources Announces Gold Assays up to 2.2 Ounces per Ton, Fran Gold Project, British Columbia • NBRI • Aug 26, 2024 10:00 AM
PickleJar Unveils Latest Venue Managed Services Innovations in Upcoming Webinar • PKLE • Aug 23, 2024 1:11 PM
Element79 Gold Corp Provides Update on Nevada Portfolio • ELMGF • Aug 23, 2024 8:00 AM