HD Thanks My concern after reading the 10Q is that they have been deferring most of the payments due on the Pharmkon loan No big deal in 2013 as they were expecting a positive Anchor decision but 1st Qt 2014 they burn thru $27m and of that only about $2m ( of the projected $8m ) is a Pharmakon payment
According to poster Bob jones post # 27746 Pharmakon payments are to be $8m a QT in 2014 ...So they burn't thru $27m and didn't even make that full payment ...paid $2m ..$6m pushed back to 2017
To keep their cash burn to $24m we agree on for 2nd qt 2014 ...I expect them to do the same ....pay $2m to Pharmakon and defer $6 m to 2017 Currently the $ owed Pharmakon are "interest payments "...payments on the principal amount are due 4th Qt 2014 I believe.
My question is ...How long will Pharmakon allow them to defer payments ? The answer may lie in AMRN's 8K on 28th Feb 2013 ...note from Bobjones HD I'd appreciate it if you could take a look at it.
I agree with JL on the science . I think its very likely that will Reduce It will read out early and positive . I'm not that confident on the financials .Unfortunately I think there is a very real risk of default if Pharmakon insists on payment in full in 2015 Appreciate your opinion Kiwi
HD A follow up Its on page 99 ...F14 ...note bobjones post #27746
I'm not sure when the first payment of $8m is due Pharmakon Bob's note says $8m a QT
The report says $2.5m due ist QT 2014 ...which they made Then $8m due each of the next 4 qts ...but they can defer payment ...question is for how long . Appreciate your opinion Kiwi
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