Synodon Inc SYXXF

Technology Scientific & Technical Instruments

Synodon Inc. (Synodon) is a Canada-based company focused on providing aerial integrity management solutions for oil and gas pipeline operators. The Company has developed a remote gas sensing instrument called realSens that is capable of detecting ground-level hydrocarbon gas occurrences from an aircraft flying at an altitude of approximately 300 meters (approximately 1,000 feet). The instrument contains a high definition photographic camera, a thermal camera, laser altimeter, global positioning system (GPS)/inertial navigation system (INS) system, on-board computer, control unit, power supply and an in-cockpit display system. It offers airborne pipeline integrity management services to operators of oil and gas pipelines, which include leak detection, pipeline threat assessment, Right-of-Way (R0W) change and slope analysis, tree canopy encroachment, water crossing analysis (including three-dimensional (3-D) water crossings analysis) and pipeline location classification services.

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Synodon Inc > Financing closes

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Comment by nostrilon Apr 07, 2015 11:49am

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Post# 23604271

RE:RE:RE:RE:RE:RE:RE:Financing closes

In answer to your question sirhollar, the following quote implies that the will need 3m to pay down the 3m loan:

"The Bridge Loan is expected to be serviced with cash flow from operations until such time as Synodon can raise sufficient capital from issuing equity to pay down the Bridge Loan. The net proceeds of any such equity financing are required to be used to repay the Bridge Loan prior to any other use thereof."

So they expect cash flow from operations to service the interest and and equity issue to repay the principal.

I am all for being bullish on the stock, but we should also be realistic. A significant equity issuance is coming, let's just hope that they can announce some large new orders and have the equity issuance occur at a higher share price.

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