Not sure how adamant of the 6 month time frame the agreement was or what milestones were required to receive all $2 mil. So far they have received $1.05 million.
What is also interesting is that they are issuing this funding in the form of promissory notes, which are convertible at $0.30 pps. They have a 2 year maturity date, where they must be converted on or before.
I think most longs recall we hit that $0.30 as a high pps several weeks ago and we haven't reached or surpassed that pps since.
Sunshine has received 4 tranche payments totaling $1.05 mill from 9/8 to 1/14, roughly every 6 weeks. Could it be possible to receive the full remaining $950k due from RB Capital? It has been about 6 and a half weeks since the last payment on 1/14.
Or is there some way they won't be required to pay the rest? Of course it's speculation, but I'm interested to know what is going on with that funding. Will Sunshine get a $950k payment soon since we are coming up on the 6 month time frame for the $2 million minimum funding? Maybe we get that news this week or next.
Is it possible Sunshine has sold off shares to pay some of the funding back, as they are allowed to do? Could it be this big drop is due to some kind of selling to pay off some of that debt? Management has been good about paying off debts (12/3 they paid off $100k debt to prevent shares hitting the market and diluting). A lot to think about just in terms of RB Capital funding amount and timeline to payout. Add in all the other big news we are waiting on and this drop could be a sign of a share price jump to a new 52 week high. Just my opinion. Thoughts?
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