Monday, June 25, 2018 10:43:55 PM
While you're at it, explain why Opus sold the Sphere 3D paper, and specifically, why the impending default wasn't cured and why the paper went to a firm in the role that Colbeck generally plays. Explain why yet another two week extension of the default declaration was required. Also explain how, exactly, if there were a credible offer of $50MM on the table, why did the terms under Amendment Number Ten of the Credit Agreement not met? It is very obvious that Opus didn't believe there was a credible offer on the table, and they have some serious skin in the game.
For what it's worth, I understand why Colbeck would grant an extension. I'm sure their discount was several million, and I'd give it two weeks to turn that kind of profit if I had bought that note. I wouldn't give it a lot more though, because as cash is burned, the value of the "morsels" decline. You can figure it costs Colbeck at least $1MM a month to sit on the saleable assets, given the current burn.
According to MarketWatch, on 3/2/2014, what is now a current share worth US$0.470295 was then worth US$918.75. Go look it up.
The ANY stock chart looks a whole lot like the Biosign stock chart did. Like ANY, Biosign also had a lot of big, business-saving deals they promoted up to the end.
Offers that weren't taken have the same value as moonbeams. Could'a, should'a, would'a . . . ("subject to conditions") . . .
The Biosign episode is absolutely independently verifiable. The deal with Colbeck is documented in a filing through Sedar, under "News Release - English", filed June 19, 2018 at 16:25:50 ET.
I'm guessing you won't detail your sources, but if you can, please do.
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