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Saturday, December 30, 2017 6:22:35 AM
- It settles the old debt. Patrick is settling the old debts, just like he said he would. It shows that he is listening to us when members on this board have been asking him to renegotiate the debts.
- The new debt is on much more favorable terms. When the old debt is looking at a 60-65% discount, a new 30% discount is much better. It's still a new company that is setting up shop, so I'm not totally shocked that they need a little more cash. 40k is actually not much in the grand scheme. I wish they didn't need it, but starting multiple business avenues will require capital.
- They actually released an 8-k informing the shareholders. Many of the former notes were taken on under former management in the dark. This may be a turning point for transparency for the company. We will have to wait and see.
I've got my bags from .0031, and I'm holding these babies tight!
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