Lattice Biologics Ltd V.LBL.H

NEWS debt repayment 5 cent valuation....

[Magnum2]

 

Lattice Biologics 16.76 million shares for debt

 

2020-05-28 17:25 ET - Shares for Debt

 

The TSX Venture Exchange has accepted for filing the company's proposal to issue 16.76 million shares at a deemed price of five cents per share to settle outstanding debt for $838,000.

 

Number of creditors:  one creditor

Insider:  Guy Cook, $838,000, 16.76 million shares at five cents

 

The company shall issue a news release when the shares are issued and the debt extinguished.

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[MaterialWorld]

Hi Magnum. Nothing on SEDAR about your news yet. Great post though and Guy is fully financing this thing. I'm a believer........... MW He's in it to win, and so are we.

[BigWave1]

One has to ask is he the one who has been selling to get the price down for the debt issuance.  I hate these games.

[Nomoreshells4me]

NEWS debt repayment 5 cent valuation.... Lattice Biologics 16.76 million shares for debt 2020-05-28 17:25 ET - Shares for Debt The TSX Venture Exchange has accepted for filing the company's proposal to issue 16.76 million shares at a deemed price of five cents per share to settle outstanding debt for $838,000. Number of creditors: one creditor Insider: Guy Cook, $838,000, 16.76 million shares

[Magnum2]

Perfect, now we have 34.76 Million shares of overhang @ 5cts... In addition, the Companyannounces that it was named in a statement of claim filed January 2019 by Cheryl Farmer, the former Chief Financial Officer of the Company, for wrongful dismissal in the amount of $2.5 million USD. The Company and the plaintiff have come to a satisfactory resolution and Lattice Biologics trusts that Ms

[Unicorn9000]

That's right as MaterialWorld puts it Guy is no fool. Hahahahaha almost 17 million shares. Is that salary?  even profitable mid Tier companies in Toronto don't make a third of that. Geez scary stuff 

[MaterialWorld]

Hi Magnum2. Much of what you post is older news. Believe me, I get where your coming from. BUT.. with the creditor being Guy Cook, it just gives me more confidence in LBL as an investor. Why do you think he's dumping his own cash into this thing, because he knows he's going to lose it. NO WAY.  Guy is no fool. Niether are you or I for riding on his coat tails. I'd much rather have

[Magnum2]

Just pointing out that cheap paper has been issued and sooner or later is does have to be chewed thru. What is more troublesome, and appears is still ahead is this CFO departure and a $2.5 Million/share settlement. So add Cooks debt settlement and the CFO lawsuit settlement and now that is $3.3 Million that a microcap had to anti up...not sure what their sales/earnings per year are, but I expect

[Nomoreshells4me]

were you able to get more at .05 Magnum2.

[Magnum2]

I sold my 6.5 cters at 6.5 cents....had bids in a couple times...now just waiting on the ER to see what share price is justified. Not pricing in any COVID benefit until there is definite News on this front. IMO this is back to pre Covid, which doesn't interest me. I'm holding LBM/Lions Bay which is HALTED pending News...they are trying a takeover of a private vaccine Co. in New York

[Nomoreshells4me]

If smiles62 is right you'll see your 12.5 back again. I'm sure most are expecting much more. Patience. June could be the reckoning.