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Re: jbgoods post# 122249

Thursday, 08/18/2022 11:11:21 AM

Thursday, August 18, 2022 11:11:21 AM

Post# of 122972
Upon rereading my original post, I didn't really answer your question.

In part it was written poorly. Most of the debt I see they have on the books is at less than favorable terms & exceeds inventory on hand, which was the point I was attempting to make vis-à-vis valuation...

That's difficult to argue with. One could argue they have $3m in inventory & should be worth at least that much (writing off the accumulated deficit & back CEO pay), but with the new debt they have taken out (most stock-based & at toxic terms) that eats that $3m up.



The new Series D shares sold, along with the additional 750m warrents for common stock, is not helpful either.

But aside from the Series D, which I don't believe can be termed "toxic financing" (or can it ... I'm no expert), I was incorrect in stating that the majority of the "toxic debt" $BRGO holds is "new".

That statement was my bad, and I am honestly not sure at this point why I phrased things that way. I assure everyone it wasn't purposeful.