Bullboard - Stock Discussion Forum Regenx Tech Corp. RGXTD

Primary Symbol: C.RGX

Metals & Mining Industrial Metals & Minerals

Regenx Tech Corp. is a Canada-based company, which is engaged in development and commercialization of its environmentally friendly processing technologies for the recovery of precious metals. It has two operating segments, exploration, and development of mineral properties in Spain and mineral extraction through use of its equipment in North America. It is focused on the extraction of platinum... see more

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CSE:RGX - Post Discussion

Regenx Tech Corp. > $2,000,000 debenture

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Post by calerxx on May 30, 2024 2:30pm

$2,000,000 debenture

Page 13 of the financial statement mentions the debenture the company has with a third party. I was under the impression this money wasn't accessible yet according the the accounting it's implied RGX could redeem this loan at any time without penalty?

If this is true this would sound like amazing news, and could nearly double their cashflow position at any moment. Can anyone correct me if I'm misunderstanding this?

If true it would be a bullet in the barrel after a few months of successfully processing material to purchase more feedstock without as much concern for the revenue turnaround.

Note Receivable

On January 6, 2022, Regenx loaned $2,000,000 to a third party and in return received an unsecured debenture that matures on June 20, 2025, and accrues interest at 5%. The accrued interest is payable on redemption of the debenture and there is no penalty for the early redemption of the debenture.

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Comment by calerxx on May 30, 2024 2:33pm

I suppose the downside would be losing out on interest accured as a penalty for early redemption. If the debenture matures on june 25, 2025 it would be a tragic loss to redeem it prematurely and lose out on the extra interest (assuming that's in the agreement).

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Comment by lscfa on May 30, 2024 2:43pm

RGX owes $2M to a note holder so this cancels the $2M it lent out.

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Comment by calerxx on May 30, 2024 2:55pm

Ah thank you

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Comment by Atechnician on May 30, 2024 5:43pm

Did RGX lent that $2M to Iron Bull? "... On May 28, 2024, the Board of Directors of Iron Bull agreed to settle amounts owed to Regenx Tech Corp from Iron Bull Mining for property... " " ...Subsequent to the year end, the Board of Directors agreed in principle to transfer the Cehegn property to Regenx in exchange for the balance of debt owing to Regenx. As a result, the property ...more

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Comment by lscfa on Jun 02, 2024 1:38am

This no longer appears in Q1 2024 fins. What happened?

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Comment by lscfa on Jun 02, 2024 1:48am

Included in Note 17 of annual fins but gone in Q1 2024 fins: On December 23, 2021, the Company issued a $2,000,000 debenture that matures on December 20, 2024 and accrues interest at a rate of 3%. The accrued interest is payable on redemption of the debenture and there is no penalty for the early redemption of the debenture.

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