SiNtx Technologies Inc (SINT)

[madg]

“As of December 31, 2019, one customer receivable balance was 100% of the Company’s total accounts receivable from continuing operations. One customer accounted for 100% of the Company’s total revenues from continuing operations for the year ended December 31, 2019 and 2018” lol

“In September 2019 the Company entered into a debt arrangement with a finance company to purchase equipment. The debt balance at September 30, 2019, totaled $20 thousand. The debt incurs interest at 12%, is collateralized by the equipment and is payable in monthly payments of $1 thousand (including interest) over 36 months” literally what the actual F are y’all doing paying 36 months of 12% interest on this when you have the cash to outright buy it. This seems like its benefitting someone they know like a family friend or something. That’s a waste of money.

“The Warrants also contain a cashless exercise provision that allows the holder to receive 70% of the common stock otherwise available to the holder electing the $1.50 cashless exercise provision.” Lol