The numbers on paying off the convertibles, and share buy back.
So going out on limb here, thinking 3rd time is a charm, and funding arrives in their account. Here is what were looking at.
There is one note left from July 31st that will hit this week for $200,000.
February, believe it or not, February was going to be the best month for lack of convertibles we've seen in a long time. Only 2 for a total of $192,500.
The total for the rest that we know about from the last 10Q, which would have been dated through October 2019 total $1,563,453.
You would have the unseen notes from November and December, and probably a couple from this January. So I'm going to estimate $400,000 for each of November and December, and $250,000 for January.
So there is probably around $2,805,953 in notes outstanding, I'm not including the one for this week, because he wont have time to buy it back.
So if they get the first $7.5 mil, you basically become debt-free. I can break down their liabilities on their balance sheet if you want. But trust me, all their debt is in the shares.
The share buy back. Edwin should not hesitate. Buy back minimum half of the outstanding shares. It's around 103 million. 50 million at even $.05 costs you $2.5 mil. He needs to take advantage of the share price while he can for maximum effect.
$3,000,000 pay of debt
$2,500,000 buy back
Leaves you $2,000,000 for marketing for month 1 (February)
Get the next $7,500,000 in March, and we have a profitable company.
