Well, lessee...6 months interest on a million (!plus) dollars..at 12 percent compounded daily plus one twenty fourth of one million dollars (!plus) principal payment and closely followed by monthly payments thereafter for two years. Then come the warrents.
The one million (!plus) means that the PIPER got a front end load when he agreed to the one million. I forget exactly how much front end load, but if you have ever dealt with loan sharks you can visualize it. I will look it up, though, and post it later. The loan is for substantially more than one million... but one million is all that CDEX got.
Actually, you need a CPA to figger out how much money is due when. LOL!!
The baddest part is that they cannot sell any PPs until the loan is paid. Soon as they burn up the million, they are screwed unless they can sell enough stuff to cover the burn rate. The existing PP holders all got warrents to buy more shares at varrying prices, though. EEMPEE wants them to exercise those warrents..which is allowed despite the PIPE contract. (CDEX cannot legally bargain away the warrent rights of existing PP shareholders.)
Yeah, them Ole Boys And Gals that were getting bird-dog fees for selling PP shares to mentally challenged rich fokes, widders, orphans, sports millionaires etc have fallen on hard times. They hauled-ass for the most part and quit posting.
The Company can last for awhile...until they spend all that million and whatever they get for the warrents to PP holders.
They cannot sell any significant Myth Guns at 5 K a crack, nor especially any Valimeds to amount to anything. Both products are stuff that people might buy if they have a bunch of money lying around.. but the products are far from a necessity that is going to fall within a tight budget.
I have been gettin along pretty good... I see that you have taken up my travellin habit. We miss your posts... catch some fish now and again!!
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