Help me out with the deb issue Just seems strange to me.like something going on behind closed doors I don't know about. I haven't seen any discussion on the board here about 2 key factors.
1) the press release said the issue fees were $1.5 million. On a $10 million private placement to existing shareholders via FCF ( who?) ? That's 15% commish and 'costs'. Most bought deal equity financing of this size is done for 6% ish.
2) by itself, I could dismiss the generous fees. But wtf is the deal with almost immediately converting the entire deal into stock? I REALLY don't get that.
so combined it reminds me of the old poker saying. If you look around the table and you don't know who is the mark ...... it's you.
can someone explain because I like the storyline but I don't know the cast.