![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Wednesday, September 07, 2022 5:37:12 AM
Have a look at the Empire 13D filed earlier this year. It makes for disturbing reading Empire 13D
In September last year the company ‘modified’ its loan agreement with Energy Evolution Fund (whose only real position is bizarrely Empire and is run, equally bizarrely, by Phil Mulacek, the Empire Chairman and his son Sterling Mulacek). Presumably this was agreed by all sides over a discussion at a Mulacek family barbecue?
Part of this was granting a new warrant to buy 500,000 shares in Empire at $5. Also extending the second loan by 18months to June 30, 2023 and the Fund agreeing to get paid interest on the loan in Empire stock at a fixed price of $5 per share IF THEY OPTED FOR IT. Nice giant gift of free optionality huh?! They had to exercise $6.5m of the convert they owned to get this but the entire conflicted Empire / EEF setup is about using Empire warrants and stock to generate highly amplified mark-to-market performance in EEF whose track record is then used to raise real money
Ask yourself why any reputable operators would involve themselves in such a dubious, complex and furiously frequent series of highly complex debt, equity and warrant transactions between a listed company and a bunch of related parties they also control (including PIE aswell as EEF, amongst others)? If you can figure out a reason that isnt of great concern to Empire shareholders then please post it below
Recent EMPR News
- TSX Venture Exchange Stock Maintenance Bulletins • PR Newswire (Canada) • 03/02/2024 03:56:00 AM
- THE Mining Investment Event of the North 2023, View From The C-Suite • PR Newswire (Canada) • 08/24/2023 11:45:00 AM
FEATURED BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • Jul 2, 2024 7:19 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM