PMCM: REMAIN CALM & READ >>>
I had a very long conversation with David Michery which ended in solutions to capitalize the company to eliminate about $600K in debt which is what is needed to cancel ALL that is toxic in PMCM's books. I am fairly confident that an 'angel investor' will take this debt out by this Friday ;)
What this discussion points to is the A/S increase that peeps seem to be freaking out about which I would like to explain. Have a read here:
This portion of debt, ~$600K, which is outstanding must be reserved hence the 14 filed. For those of you not familiar with reserves, lenders require that issuers reserve # of shares at par value of shares--whether they will be used or not--relative to the outstanding principle and interest of a loan. In this case with PMCM, we are looking at par @ 0,00001 hence the reserves required look absolutely horrific but in reality, lenders cannot possibly convert at this par level and expect to blow out of their shares so this 14 filing should not be taken at its face value. It should be noted that the 14 is a customary and a compliance filing per lender requirement and reflects additional shares that are needed to make acquisitions (i.e. MMJ operators coming into the new property!).
Upon settlement of this $600K debt, all can expect this A/S to not go through as it will not be needed.
In God We Trust. All Others Must Pay Cash.
AI
