Post by
Bobo23 on May 26, 2023 6:08am
Recent filing says they borrowed $ to last until July!
They borrowed money 3/31/23 to last them the next 4 months which I assume means they are out of money at the end of July. If these guys have not been able to even get close to selling their blue light tech they have been talking about since 2018 (or earlier?) then I assume they will get nowhere by the end of July. What a stinker of a company! In my opinion. From the recent CSE form 5:
"Subsequent Events Subsequent to the period ended March 31, 2023, the Company entered into an original issue discount, unsecured, non-interest bearing promissory note with Bigger Capital Fund, LP. The purpose of the note is to maintain its corporate existence and operating business for the next four months as it seeks new financial partners. The note consisted of 4 payments of $10,000.00 USD per month for 4 months starting in April 2023 with a maturity date of December 20, 2023. The note will be converted into five times the original amount. In addition, 137,500 incentive stock options with an exercise price of $6.20, expired on April 18, 2023."