Questions to the Heavy Hitters. No thing new so I am trying to finf something positive, but I`m up to my head in numbers.
First question:
How much did we get or shows from our deal from Wi-Lan Panasonic for the S2D switch?.
A few posts back DJ asked about "First Tranche",my understanding is that`s the first one with more to come,so we are not done with the PP yet.
Am I right?. wrong?.
I had some PMs asking for clarification,some people finds it vague again.
Cash Position and Sources of Financing
As at May 31, 2013, the Company had $1,085,511 in cash and term deposits compared to
$2,466,090 the previous year. Temporary investments consist of term deposits bearing
interest at the rate of 1.20%.
On September 18, 2013, the Company announced changes to the conditions of the private
placement originally announced June 3, 2013 which would take the form of convertible
debentures. However, considering the current market conditions, the Company decided
that it was preferable to do a private placement in units of $ 2,500,000 with an overallotment
option of 15%. Every unit, worth $ 0.10, will consist of one common share and
a warrant to purchase one common share at a price of $ 0.18 which can be exercised
during the two years following the closing.
On September 27, 2013, subject to the terms and conditions of the Subscription
Agreement, investors have committed to subscribe for 15,400,000 units for a total of
$ 1,540,000. The company expects to be able to subscribe a total of 25 million units.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
On another excerpt:
On Sept. 27, 2013, subject to the terms and conditions of the subscription agreement, investors have committed to subscribe for 15.4 million units for a total of $1.54-million. The company anticipates that the closing of the first tranche will be on or around Oct. 3, 2013, subject to regulatory approvals.
"We are grateful for the confidence in our business plan shown by the investors despite the current difficult financial market environment for small-cap companies," explained Mr. Routhier. "In the coming months, we will work towards increasing our revenues and reducing our operating expenses in order to break even as quickly as possible. The company, its board of directors and all of its employees are making the commitment to work towards that goal".
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ So if the Company intends to raise the balance of the 25 million units we will be doing the whole thing in tranches, having already done the first. My question, if that`s the case ,would they be able to revise the price if things improve ?, are they stuck in first gear ?or hopefully this is the first and only, Any comments ?. I am still reading, getting too old for this crap.