re: $23million from M&P The aggregate consideration payable by M&P to Tuscany pursuant to the Transaction is comprised of: (i) payment in cash in the aggregate amount of U.S. $23.0 million, of which U.S. $15.3 million has already been advanced by M&P to Tuscany,
Read more at
https://www.stockhouse.com/news/press-releases/2013/11/14/tuscany-international-drilling-inc-announces-sale-of-two-colombian-rigs-and#GsYHEq448buRsiht.99 The aggregate consideration payable by M&P to Tuscany pursuant to the Transaction is comprised of: (i) payment in cash in the aggregate amount of U.S. $23.0 million, of which U.S. $15.3 million has already been advanced by M&P to Tuscany,
Read more at
https://www.stockhouse.com/news/press-releases/2013/11/14/tuscany-international-drilling-inc-announces-sale-of-two-colombian-rigs-and#GsYHEq448buRsiht.99
If you been read the NR $15million has already advanced & therefore $7.7 million is left of the $23.
As far as selling so far...buy on rumor & sell on the news. Debt re-negotiation is the next step. Then HRT resolution is a must & let's hope mgmt does a better veting job on future partners/subcontractors. Maybe a performance bond is required. But debt re-negotiation is the next step. Don't forget we failed the interest payment covenant in Sept. & were given a waiver once. Surely not twice. The lenders are not a charity, but with the NR we have gotten out from under some of the debt & look better financially to lenders.
carlos
The aggregate consideration payable by M&P to Tuscany pursuant to the Transaction is comprised of: (i) payment in cash in the aggregate amount of U.S. $23.0 million, of which U.S. $15.3 million has already been advanced by M&P to Tuscany,
Read more at
https://www.stockhouse.com/news/press-releases/2013/11/14/tuscany-international-drilling-inc-announces-sale-of-two-colombian-rigs-and#GsYHEq448buRsiht.99 The aggregate consideration payable by M&P to Tuscany pursuant to the Transaction is comprised of: (i) payment in cash in the aggregate amount of U.S. $23.0 million, of which U.S. $15.3 million has already been advanced by M&P to Tuscany,
Read more at
https://www.stockhouse.com/news/press-releases/2013/11/14/tuscany-international-drilling-inc-announces-sale-of-two-colombian-rigs-and#GsYHEq448buRsiht.99
The aggregate consideration payable by M&P to Tuscany pursuant to the Transaction is comprised of: (i) payment in cash in the aggregate amount of U.S. $23.0 million, of which U.S. $15.3 million has already been advanced by M&P to Tuscany,
Read more at
https://www.stockhouse.com/news/press-releases/2013/11/14/tuscany-international-drilling-inc-announces-sale-of-two-colombian-rigs-and#GsYHEq448buRsiht.99