still 60 million to raise I calculate that Sunniva will need about 60 million, before the first dollar is collected from from receivables that result from sales from the new glass palace.
I realize that people who post under names like, Ghostof Leith, and Bluechip will post that you are always wrong Thetis, your posts are nonsense and idiotic , etc. However, find it ironic that since i started posting here, late last summer and the stock was 6/7 bucks and is now a third of that. I have been dead right and they have been dead wrong.
In working out the 60 million shortfall , I see the first cash from collecting receivables happening in July 2020. This assumes the building will be finished on September 30 the 2019, but allows a few months for testing., three months for growing , then processing ,then selling, and then 60 days to collect the cash.
Cash needs;
15 million. the regular cash losses based on prior years results after product sales to cover
G&A. payrolls etc ( for example expect 2nd quarter loss to be more than 5 million)
10. million requirement by Sunniva to fund equipment-needed before building finished
4. million to pay off Barker's 25% note
6. million to pay off some of the 13 million in accounts payable prior to the creditors coming
after Sunniva
16 million lease payments starting October 2019 at a rate of 17 .2 % interest on approximately
100 million capital costs for 9 months. Lease was about 1 million a month on a cost
of the building of 50 million. Lease payments comprise of more than just interest.
9 million costs to ramp up production for 9 months , new labour force , power costs. air
Conditioning, plants , selling costs , etc.
5 million. property taxes to be paid by Sunniva per article in local paper
3 million estimate of interest payable on all the new debt of Sunniva
68 million total
(8) million new bridge financing plus a bit for second offering
(0) million amount of proceeds to be received by Sunniva from Canadian sales after paying bridge
loan of 6.5 million
60 million amount of cash shortage
The chances of the shell company paying 20 million cash to me is zero. Further, they would need to raise another 100 million to build something that Sunniva had to walk away from. They may sell the land for 7 million , their cost, less say a million to remove the footings for net proceeds of 1.5 million
How can NHS be even worth a dollar, with a law suit hanging over its head, declining sales every quarter and consistent losses after expenses every quarter. Who would buy it , only to feed it the next month and the month after. Under the greater fool theory lets say they got 5 million cash net. with these number there would be just enough to pay off the first bridge financing and zero proceeds to Sunniva