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This is HUGE for GNUS shareholders. 55 million

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cjstocksup Member Level  Tuesday, 06/23/20 10:55:33 AM
Re: ~MulaGreen~ post# 7071
Post # of 8269 
This is HUGE for GNUS shareholders. 55 million dollars cash on hand and DEBT FREE!
https://finance.yahoo.com/news/genius-brands-international-retire-senior-132010081.html

Genius Brands International to Retire All Senior Secured Convertible Debt

Andy Heyward, Chairman & CEO of Genius Brands, commented, “This is a win-win for all parties. The Company today is debt free and holding $55 million in cash. The Company is uniquely positioned to take steps to build Kartoon Channel! into the pre-eminent childrens’ broadcaster anywhere, and produce, acquire, and license, the most compelling, forward-thinking programming for children today. We are delighted that our existing senior secured debt holders had the confidence in the Company to pre-pay the $4,000,000 Note obligation and to then convert their entire debt into equity right away.


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