GREY:ADEXF - Post by User
Comment by
crazyanalyston Mar 03, 2014 1:42pm
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Post# 22273707
RE:XinXing gives 1 year extension on convertibles
RE:XinXing gives 1 year extension on convertiblesXinXing has yet another 5M debenture due in August I believe. How will AXI pay that off?
It seems that XinXing is just ignoring that this won't become a mine because writing off 5M that they can't recover isn't good for this year's books.
So they are charging 4%? For a company who invested/gave this money for a stake, they don't want to take the stake. So they are trying to squeeze what they can get back, i.e. 4% or 200k this year.
John's firing of Bernie might save 200k a year, but now that goes to XinXing.
If XinXing was really interested in moving this forward with respect to financing, don't you think they would have extended 0% or secondly, converted to shares today?