Cohen's closing out a quick round of outside capital on very favorable terms. This will take the capital pressures off of his cash flow which he's committing completely to CAPEX and allow for the (1) the acceleration of important corporate activities (hiring full time CFO, SEC compliant financial statements, audit, uplist - target audit audit completion date late November / early December); (2) accelerating CAPEX on the workover program (3) accelerating several key acquisitions (4) significant fuel for the treasury share buyback.
Cohen anticipates closing the private placement over the next 2 weeks.
He wants to note that shareholders will be very happy with the terms of the offering especially in comparison to the cash consideration, which should provide both an organic catalyst for the share price, and no dilution as he will be cancelling some of the shares used to acquire Freedom which will result in a net positive offset to the new shares issued (more shares are being cancelled than issued, shares being sold at a price in excess of the current market price, no convertible debt).
Really exciting news coming on all fronts. Cohen anticipates a really strong finish to what has been an interesting year for the betterment of the company and its shareholders.
Exciting news coming!
Bullish
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