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Friday, July 24, 2020 7:26:51 PM
DEBT BALANCE
Doing some math, I would suspect Note balance for acquisitions of $18 million revenue business and loan for expansion initiatives to have been $4.37 million at 3/31/20, that includes accrued interest. If 20 million shares have been converted since 3/31/20, I would expect roughly $0.8 to $1 million in debt has been eliminated since then. 20 million is assuming 10 million restricted was returned to treasury from the acquisition deal restructuring based on current O/S of 364.5 million and O/S of 354.3 million on 5/15/20 per F/S. Therefore debt balance in the neighborhood of $3.3 to 3.5 million.
CONVERSION OUTLOOK
The higher the price rises, the less shares get converted. As Stockforce stated, the company intends on refinancing once they file S1 and can obtain better financing. 10% leakout clause is always in play though. It's not going to slow this thing down at all with the right news.
Recent RXMD News
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