A Re-Financing Example:
I'm going to talk about this PHUN financing because I want HLIX to do the same. It's relevant. I just want that clear to all that think I"m a public servant here. I don't work for you guys. I work for me. Steady Kickers never quite grasped that concept in its totality. Few do. You have to be a contribution to this world. If you are going to lecture others, you should do so from a position of worthiness. If you contribute nothing, you are worth nothing. So, your opinion matters not.
Now, on to refinancing for HLIX. The next step in my visionary expectations of Helix. Here is another VERY REPUTABLE source in Canaccord Genuity that I think Scott, our CFO, should pursue. PHUN was going backwards and approaching our sales. A SPAC like KERN, that crashed and burned. But they may be on the rise. It's hard to know. They've had so much PRs lately about new deals. The stock is up on this refinancing below. Notice how they, unlike us, have convertibles now WELL OVER their current share price. That's NOT TOXIC.
it has entered into a refinancing transaction on terms more favorable to the Company for the issuance of senior convertible notes of the Company in the initial principal amount of $4.32 million (the "Notes") with a maturity date of December 31, 2021, pursuant to a Securities Purchase Agreement by and among the Company and the same institutional investor (the "Buyer"). Canaccord Genuity, LLC acted as sole placement agent (the "Placement Agent") in the transaction. Upon closing of the sale of the Note (the "Closing"), the Company is expected to receive gross cash proceeds of $1.75 million after paying off the note issued to the Buyer on March 20, 2020, as well as applicable Placement Agent and legal fees in connection with the transaction. The obligations of the Notes are to be repaid by the Company in cash only, but at the Buyer's election, may be converted at a fixed price of $3 per share subject to certain adjustments. As additional consideration, the Company also issued the Buyer a warrant for the purchase of common stock representing 30% coverage of the principal amount of the Notes that are exercisable in cash for $4 per share.
And then they have this about registering thsoe shares. Called S-1 registration, which Whatsup improperly understood as "dilution" for no reason. See, that's a legality for what already was, as shown below:
The securities sold in the financing transaction have not been registered under the Securities Act of 1933, as amended, or any state or other applicable jurisdiction's securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions' securities laws. The Company has agreed to file a registration statement with the United States Securities and Exchange Commission registering the resale of the shares of common stock issuable upon conversion of the Notes sold in the financing transaction
Now, I want to consolidate ALL our toxic mess. Because we fell below .90 and that initiated a toxic brew. But at the same time, they offered me a great value price I think. so I'll take their own poison pills, so to speak, and their price to pay for my second-wave of position of strength. I feel like this deja vu, only fast forward to the future of so much we've accomplished. Now I have all this hard work for a discount because of a lot of reasons. A refinancing such as above would really fix a lot of issues I think. I seriously think if Canaccord Genuity likes PHUN enough to do that, they should like us as well. PHUN has nothing over us but a little more sales at this time, but they have that Nasdaq listing. Which they got there in the same way Kern did. By cheating in my eyes. Through the SPAC loophole. Neither one of them earned their place there.
