GREY:ATBPF - Post by User
Comment by
davgroon Mar 06, 2024 10:40am
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Post# 35917983
RE:RE:I'm sorry what happened?
RE:RE:I'm sorry what happened?woundedknee wrote:
Wow! ATE has to repay 20 million plus 4 million interesr and not subject to appeal. This story just keeps getting better and better,,,for the shorts. GL Mugsy
Its a lot worse than investors understand. The judgement was $24 million in USD or the equivalent of about $32 million in CAD. Terms of payment are unknown but I would expect that payment must be made to Nuance soon.
As of December 31st, 2023 the company had about $24 million CAD in cash, cash equivalents and term deposits. That is a shortfall of over $8 million CAD with respect to the Nuance payment owing. Where are they going to get that $8 million CAD from ? Not from warrant holders as I doubt that many executed their warrants at the early warrant exercise price. A best effort public offering would be highly discounted at this point.
Unless a white knight swoops in to save the day ATE may have seen its last day as a going concern regardless of the potential success of the phase II trial. You will continue to see a slow decline in share price until management issues their next press release with an actual concrete plan for moving forward.
JMO