Post by
TomConstantine on Apr 25, 2022 10:56pm
Debentures
2 month extension...what does this mean?
Comment by
Blizzy420 on Apr 26, 2022 8:06am
Either the plan to launch within 2 months or they will sell the building and be able to pay back the debenture and the outstanding mortgage with the proceeds
Comment by
Gman620 on Apr 26, 2022 11:51am
That's exactly what I thought, as well. There is another option to get new money to service the debt (and other things). Dr. Sen could get out his checkbook.
Comment by
shneps on Apr 26, 2022 12:52pm
Unfortunately Dr Sen's cheque book comes with an 8-10% interest rate attached. He is quite willing to put up his money (at a cost) after taking millions from investors.
Comment by
Gman620 on Apr 26, 2022 1:53pm
Right. I think it was pointing out how much of our money he has taken with zero to show for it that helped get me booted out of Blizzy's World. Lack of respect for investors. He still has a chance to redeem himself, but the window is closing fast.
Comment by
Blizzy420 on Apr 26, 2022 2:40pm
You are truly an idiot. I won't dignify breaking out how management spent the money, but 37.5 was spent on acquiring the tech. While the share price has changed that tangible asset is valued at whatever Sen and IBS decided. So that immediately takes it under 60 and you are just a waste of time for anyone actually trying to understand what is going on here. SMH
Comment by
shneps on Apr 26, 2022 4:35pm
Yup. Every year the tangible asset is impaired by over $10M because it hasn't atributed any value to the company's assets. Well, except for in the last financials in which Loverock placed a $10M+ impairment toward the tangible assets and added them together instead of subtracting the impairment. Nice accounting.
Comment by
Gman620 on Apr 26, 2022 6:14pm
As you said, Shneps: "Facilities and licences are still up for sale. They need those assets sold." That's where it is right now.