How can all debt be converted at 0037 when the volume profile simply doesn't support that? The company will always have debt. All public companies have debt, they exist as a public company to raise capital through debt financing and big part of that involves debt/equity conversion. Big and small firms do it this way and VPOR is no exception.
The proper assessment is not the amount of debt a public company takes on but the terms of financing. Looking at VPOR's biggest debt, the credit risk assigned to Magna/Hannover's debt is very low. It's basically the same structure assigned to a $5 million debt so shareholders are complaining about nothing. There was legacy debt here that had ridiculous conversion terms but they all seem to have converted during this quarter and the sellers show up on L2 to sell periodically, represented by MM BKRT and MM VFIN.
What I find unrealistic is the expectation of shareholders here or anywhere for a company to be debt free. Debt is a necessary and important part of a company's finances.
I am not optimistic in my approach. I am realistic and do an objective assessment of an issuer's financials because that is what I do. In the meantime, I am hearing from a fairly reliable source that $VPOR signed a major distribution agreement.
Hang in there and wait for many positive updates from the company shortly!
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