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AnorTech Inc V.ANOR

Alternate Symbol(s):  HUDRF

AnorTech Inc., formerly Hudson Resources Inc., is a Canada-based technology company. The Company is focused on the development of green technologies made from anorthosite (aluminum calcium silicate) rock. The Company is focused on three global markets: green alumina, CO2 free cement and concrete thermal energy storage systems. The Company owns 100% of the Gronne Bjerg Anorthosite project in Greenland, which is located southwest Greenland near the capital city of Nuuk. The Project hosts a quality anorthosite (calcium aluminum silicate) body. The Company also has a 5% carried interest on the Sarfartoq rare earth element project in Greenland, partnered with Neo North Star Resources. The Sarfartoq carbonatite project hosts an advanced rare earth element project rich in neodymium and praseodymium.


TSXV:ANOR - Post by User

Post by Maxmoeon Aug 05, 2020 7:57am
218 Views
Post# 31365453

Can’t say you weren’t warned. Repeatedly.

Can’t say you weren’t warned. Repeatedly. Well management, dangerdave , and Tex will perpetuate the fairy tale no doubt. No dilution? Come on man what else is it when ownership has dropped to 21% when fully exercised/converted. So far. I doubt it ends at this level. Interest reduction to 'only' LIBOR plus 9.5%? Hello, the rate went to 20% for a few months as a bridge to the current debt. That bridge cost $896,734 in 'cash transaction costs' plus 29.4 million warrants, plus non cash transaction costs. All to get back to LIBOR + 9.5% where it started. Wow. Read notes 10-12 in the financials.  Buy back the 80% at 200% ??? How ? Cash flow from the 20% ownership? Dreaming. They wrote down their inventory by 75% because it costs 4 times as much to produce and ship as what it sells for! Not only do I not feel bad saying I told you so but bahahaha .. he who laughs last, laughs best. I'll say it again. Shareholders will not see one cent, the debt holders have taken 79% so far and the rest is inevitable. I doubt they will ever recoup their investment either. You know, just my opinion, ...... again. 
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