Tuesday, January 15, 2019 8:04:21 PM
Anyone who has been following along knows that Verus has been in negotiations to pay of all the notes and fund a portion of this $100+ back-log with a "syndicate of investors", i.e. venture capital.
The reason for this large increase in the A/S is most likely to provide a form of collateral for the funding. To pay of the notes and fund a portion of the back log I figure a minimum of 3 million but with the size of this increase I'm thinking more like 5-10. Hopefully coming with a 12 month conversion date.
If this is the case I'm not sure if the deal could be finalized until the A/S was effective or if they could close the deal based on the approval with a contingency of it being made effective.
Jan 31rst is a big date.
A/S becomes effective
Monaco note matures
and the 10-k is due
Looking like everything is being timed around that date but a pr on agreement to pay off the notes and fund operations could come the end of this week or next IMO.
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