Spectra7 Microsystems Inc V.SEV

Pay these damn loan sharks off once and for all

[lscfa]

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[Spectra7]

" loan sharks" hardly, when a company doesn't sell anything they need to raise $$....or close. Looks like there will be additional " debt financing " in the very near future. Same old, same old. Tick,tick,tick. S7

[Josestolemytaco]

So far we avoided converting this debt to shares which is positive. They are comfortable paying off 1.3 + milliion which is good to see.  Think we are still not in terrible shape and do not have to raise again.fingers crossed. cant imagine how many chips Sony will need but if they are getting these ready for Christmas they will certainly need them shortly. Sony could make Spectra profitable

[kaydeeh]

What have they done? They got 2.5 times the amount of money they were looking for  in the last financing a little over 6 months ago and already they are strapped for cash? I am going to assume they will be at the low end of the re-jigged guidance or possibly miss... which sadly is typical.

[Spectra7]

Kaydeeh, let's not confuse reality with the hopes and prayers of the few dreamers. Tick,tick,tick S7

[Josestolemytaco]

I dont think they are strapped for cash. they just paid out 1.3M. Sony was helping with their order in terms of having to prepay the foundaries so I am sure that was a big help. I believe people are just assuming that but they shouldnt be strapped as far as I am aware. Lets just say they have not mentioned a raise and they have access to the 6 million dollars worth of shares if they needed it for

[Spectra7]

Joetaco, " Sony helped with pre-payment to the foundry ", the NR was when??---or is this just speculation? Tick,tick,tick S7

[Josestolemytaco]

I would have read that somewhere.

[Spectra7]

interesting, I think that the ex-CEO would have trumpeted that from every balcony and NR if that was the case...no way the huge followings on SH & CEO.CA couldn't confirm. Tick,tick,tick S7