DEBT???I have not reviewed the company financials , that is Jimmers specialty to check their current debt structure !
They have had several private raises where there was share dilution but not debt structured.
I believe in January of 2018 the company raised $15 million on a 3 yr Convertible Debt structured note with 7% interest rate, coming due in January of 2021.I believe the optional conversion rate was either .35 or .45 cents in lieu of repayment of the loan!
Unless the company is able to get the share price up high enough the lenders will expect repayment at that time or convert the option if the price has recovered by this time!(doubtful they can recover that much ground in 12-18 months, but who knows)
So at that time or sometime prior to the note coming due a restructuring will need to take place!
True, based on today’s market cap and a big note coming due in 18 months could be a concern until they are able to initiate the restructure.
I am hoping they get taken out 12-18 months from today with a much better looking balance sheet and larger Data Center customer base!!!
More concerned about the financing plan they are about to disclose in a week or so...
Fingers crossed that we don’t get punished !!!