OTCPK:HBAYF - Post by User
Post by
drugstore18on Oct 25, 2017 1:43pm
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Post# 26857154
Objectively speaking....
Objectively speaking....
......Inisders, holding more than 50% of the company stock, agreed to a convertible debenture with a $12.42 conversion price and a 5% coupon, converting in 8 years. This security has a liquidation preference over all other equity holders and if not converted earlier, will account for 30% of the equity in the company. MANAGEMENT JUST SOLD 30% OF OUR COMPANY FOR NO PREMIUM AND IS PAYING A 5% DIVIDEND AND GIVING A LIQUIDATION PREFERENCE! No one knows more what this company is worth and the timing of the initiatives and even with that knowledge..this is the best they could do? We get a ONE PERECENT dividend! Anyone who still argues that there is hidden value just doesnt get it. Management just sold 30% of our company at no premium and is paying out a 5% dividend to get the money. ( yes.. I am repeating myself). HBC is in worse trouble than anyone imagined and that is why there was an initial pop in price and then NOTHING. This is going lower.... And dont worry about the activist - he was in at about $10.