Effectively they have turned the hybrid debt/equity shares into straight equity.
It seems like the value of the shares depend on the companies ability to pay back all of its debt.
The company increased cash by $5 Million in last quarter.
According to what has been provided, 75% of cash coming in will be used to pay the debt.
For simplification purposes, will say that $4 Million each quarter will be used to reduce the liability.
Given that their is 2 Quarters in 2013, 4 in both 2014 and 2015 and another last one before the debt is due ... and assuming that they bring $4 Million in each quarter .... They will reduce the debt to 133.4 - 44 = $93.4 Million
So, we are still looking at a bleak picture, and given that the company will not have the ability to finance new growth ... things don't look that good.
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM