Hi ice, as i said a few days ago, its how the finance is MANAGED, that maters. Its my understanding that it wont happen for 60 days? so could fall in with the main diamond mining season. What does it matter Asher or anyone else as long as ALL make a profit. Dredgemaster
It is a positive for SNEY and Asher holds little relevance for the company. Once the conversion based on loan terms is met, the stock will drop heavily but Asher would have a vested interest in seeing the stock hold enough for them to cover.
The only problem is how small it is. With 1.2m in liabilities, this loan is but 15% of their debt load and not much more than their default debt. Honestly I feel they needed about twice this number for funding growth and any mining activities.
It will be interesting to see what they do with the funds. Will they adjust debt and get out of default or will they remain in default to fund operations.
I believe its mandatory for an 8k filing do to the size of the conversion so we should expect a filing within the next couple of days. Hopefully it will shed some light on the loan and conversion rate or the PP with a conversion.
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