Tangelo Games Corp. IPRSF

Warrant extension approved

[lscfa]

  Note the exercise price was not dropped again. I guess even loan sharks have a conscious.....  


TANGELO GAMES CORP. ("GEL")
BULLETIN TYPE:  Warrant Term Extension
BULLETIN DATE:  December 5, 2017
TSX Venture Tier 2 Company

TSX Venture Exchange has consented to an extension of the expiry date of the following warrants:

 

# of Warrants:	35,000,000
Original Expiry Date of Warrants:	January 30, 2018
New Expiry Date of Warrants	April 30, 2019
Forced Exercise Provision:	If the closing price for the Company's shares is $0.075 or greater for a period of 10 consecutive trading days, then the warrant holders will have 30 days to exercise their warrants; otherwise the warrants will expire on the 31st day.
Exercise Price of Warrants:	$0.06

                                                           

These warrants were issued pursuant to US$39,000,000 and US$28,000,000 secured term loans, which were accepted for filing by the Exchange effective February 6, 2015 and November 26, 2015, respectively.

For further details, please refer to the Company's news release dated November 27, 2017.

[Bringtherain]

Tangelo is undrwater, ie worth less than the debt, let alone debt+equity. If you take the TTM EBITDA and divide that into the total debt, you get a big multiple. So of course they extended the warrants and did not alter the price, as they will never be worth anything. Messing with the equity stakeholders, or giving them a sense of false hope. The only one who comes out financially intact is the

[willis888]

All of a sudden we have someone new show up that says they don't own any stock banging the drum to get people to sell at the exact same time we have buy orders showing up.Why waste your time on this board if you don't own stock.why show up all of a sudden?................All of a sudden we have news flow.Covenants reduced,warrants reworked.Why would TEC be allowing Tangelo to waste money

[user46]

You are right willis888. People just want to accumulated share in low price and they are just doing speculation with financial side. That is penny stock. Speculation is the mother of all evils. Something brewing and 3.5c is cheap. GLTA

[skinnybob123]

Absolutely Willis. Most likely a shorter panicking. If the buy orders keep flowing at the rate they have, the shorters will lose very soon. Remember any real shareholder will not openly bash a stock that they own and have interests in. Common sense

[Bringtherain]

I have thought about it. Ergo why a close friend took his losses. Instead of hyperbole, present some proforma numbers and suggest multiple where a deal could get done.  I'll help you out, because you may not understand finance: Annual Revenue EBITDA EBITDA multiple (perhaps use a low, assumer, high value) Potential sale price Less TEC debt Net for equity holders Number shares outstanding

[Bangkokboy]

It's already been said already, look at NYX, they have the same senario (debt more than equity) and are presently being bought out!!  I guess your theory/agenda is grass...

[Bringtherain]

"It's already been said already, look at NYX, they have the same senario (debt more than equity) and are presently being bought out!!  I guess your theory/agenda is grass..." LOL. Deep! A single data point to benchmark where this should be. Good luck.  This must be going to the moon!  Cheap cheap!!

[Bangkokboy]

Nah, not deep.  It just debunks your theory. Didn't say anything about going to the moon other than what's currently happening to NYX.  Gel has enough mud on them so if this hits double digits it would truly be something.  You wouldn't happen to be a smarter version of Gerald?