Replies to post #234419 on 1812 Brewing Company Inc (KEGS)

[THall]

All that tells me is that 0 DD has been done. SMH load up

[THall]

Since obviously no DD was done. Here is the answer to all the dilution. They still have about $13 million to dump would be my guess. A $13,712,779 settlement "3a10" was granted at a 35% discount of market price. Billions of new shares are being printed

From their last disclosure

The District Court of Maryland conducted a fairness hearing on October 25, 2022 and approved the Settlement Agreement. Elimination of this debt is a top priority for the Company. In 2020 and 2021 alone, the accrued interest on these CDs generated interest expense of $1.9 million. The Settlement Agreement temporarily caps the CD obligations by staying further interest accrual, and if satisfied in full, the Settlement Agreement will satisfy the obligations altogether.

As previously announced, the Company has been in discussions with its two convertible debenture (“CD”) holders and a third-party Trillium Partners LP (“Trillium”) to restructure and eventually eliminate convertible debt, plus accrued interest, that totaled $13,712,779 as of the period ended June 30, 2022. Ultimately, Trillium and the CD holders entered into an agreement to transfer this debt to Trillium. As part of the Company’s plan, on October 17, 2022, the Company entered into a Settlement Agreement and Stipulation with Trillium (“Settlement Agreement”), subject to court review and approval, whereby the Company agreed to issue shares
of common stock to Trillium pursuant to the Section 3 (a) 10 exemption at a discount of 35% to the market price