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Re: sewer182 post# 4396

Wednesday, 08/01/2018 10:16:46 AM

Wednesday, August 01, 2018 10:16:46 AM

Post# of 5625
RBIZ Yeah, I think it's a pretty good setup. One relatively minor correction to my earlier snapshot of the situation.

The ~$1.3M debt that was previously outstanding -- actually, I don't believe all of it would have been paid off, as $530K is wrapped up in a "friendly" note from a related party that actually has relatively good terms (zero discount to market), and cannot convert until it matures on January 26, 2019. Obviously that is way down the road, but even then the company clearly plans to pay it off. Now that the real estate biz spinoff is complete, the company can do much more for better financing to seed fund the order backlog distro business toward generating steeply increasing revenues.

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