Thursday, December 19, 2019 8:45:13 AM
Shares from a converted note are being dumped into the market.
The PR said the company "has satisfied two loan agreements which were coming due. The company met these obligations through the limited sale of gold and support of its shareholder base."
Fist, "satisfied" is an interesting word. The skeptic in me wonders why it doesn't say "paid off".
Second, the loans were satisfied through "the limited" sale of gold and "support" of its share holder base.
Why were the words "the limited" included? There is some significance to it, but I'm not sure what that is yet. Also, "support" of its shareholder base. One would normally take that at face value to mean the loans were paid off by private placement or some other debt/financing instrument that shareholders own. Could "support of shareholder its base" also mean they converted them into shares? Not sure.
Unfortunately, given the company's history of giving half truths and double speak, I've grown too skeptical to take any PRs at face value.
Make no mistake, the company is still in a toxic death spiral. It may not be something that takes it down in the next 6 months, but the company is only surviving by taking on more and more debt at less favorable terms each time. (- Which is how I define a toxic death spiral)
It is possible the company can get out from it with serious gold production, but the odds of that happening do not appear to be in its favor.
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM