Cielo Waste Solutions Corp. V.CMC

convertible debt

[lscfa]

2 years of interest was prepaid at issue date so converting early is highway robbery. Mgmt should ask for a refund of unearned interest paid.

[lscfa]

Series C even worse. 3 years of interest prepaid. mgmt should deny early conversion.    The C Debentures bear interest at a simple rate of 15% per annum, the initial three (3) years of interest prepaid (the “B Prepaid Interest”, together with the A Prepaid Interest and B Prepaid Interest, collectively the “Prepaid Interest”) on the date of issuance of the C Debentures (the “C Issue Date

[lscfa]

Convertible debt all converted? The holders were prepaid 3 years of 15% interest and converted it all after 1 year. The mofos own us a refund of 2 years unearned interest. As of January 31, 2021, the company has issued a total of 4,694.6 of the C Debentures. Between February 1, 2021 and March 25, 2021, Cielo issued 74,735,899 common shares pursuant to the conversion of issued and outstanding

[ctychiro]

What does it have to do with the investors of the debenture? Why would they give a refund? Why not be pissed at Cielo for putting the deal together? That 3 yr 15%/yr was paid up front in shares, plus warrants, and when it's converted averages out at 0.045 per share for the deal. No one would have expected this sort of run. I'm glad Cielo has done so incredibly well though and fully believe

[lscfa]

I am pissed at Ceilo mgmt. The moron that negotiated that financing deal should be fired.  

[RevT79]

Sometime you have to takes what on the table!! can't even imagine being 90% done on a project and not Finnish because  there is no money available! this is a 15 year goin project! who ever that gave this deal to cielo was taking a risk himself. would you lend money to a company that is already 7 millions in debt? I wouldn't.......unless it's a really good risk/ reward deal. we are

[Mari2019]

I agree 100%. I had the opportunity to be involved in the convertible debentures and share purchase earning solid interest a couple years back when Don was looking for dollars. It was too risky for me. I ended up slowly acquiring over 200k shares on the open market under .10. I'm still happy with my position, but I could of done considerably better had I stuck my neck out when the offer was

[sam2100]

Hey lscfa, You seem to have a keen interest in the financial details of companies.  I am assuming that you have spent some years in the finance field or you are retired from this field.  You also seem to have a substantial interest in small cap companies. It's odd that you are consistently surprised in relation to how micro-/small-cap companies operate.  Previously, Cielo was

[lscfa]

Name one other start up company that did a convertible debenture financing + warrants + 3 years interest prepaid. I think some of those debenture holders were co. insiders and friends and family, a real sweetheart deal for them. The royalty agreement between Cielo and 1888 is another example of insiders enriching themselves at the expense of shareholders. 

[sam2100]

I can't name "just one" micro-cap company that has engaged in similar practices................since I'd estimate that over 90% of small cap companies have engaged in similar practices in relation to; company financing,  warrants, options, granting financial incentives to the original founding company members (these founding members have literally mortgaged their houses and