RE:2 BillionOregonduck wrote:
2 billion common shares outstanding - a dead weight. Might need to consolidate shares on 10-for-1 basis. Also, $185 million debt bomb to blow up in Nov. 2018 if not refinanced. I was involved in this stock many years ago, and got out at around $0.45. The Iraq/Kurds country is a mess and a hell hole. Lukas Lundin is a legendary promoter, but his RB Energy did file for bankruptcy protection under CCAA legislation. This is what SNM states on its Management Discussions on May 9, 2018: "...In case the Company could not secure external financing in sufficient amount and in time to meet its obligations as they come due, the Company may be required to take measures such as divestment of assets and or further renegotiation of its existing debt. Should this not be successful, there is a risk that the Company would be subject to a partial or complete reorganization, or that the Company is declared bankrupt. The potential that the Companys financial resources are insufficient to fund its appraisal, development and production activities for the next 12 months, particularly in case the Company is unable to finance the maturing bonds when they come due and or there are any unforeseen delays in receipt of funds from oil sales, indicates a material uncertainty which may cast significant doubt over the Companys ability to continue as a going concern."
Sure man, if you read the risk disclosures on any stock you would never get to buy anything. That been said and since im just looking at this with no position for time being, I pray for the rumour red on Swedish boards that the bond will convert into shares as the ensuing tanking (prolly in conjuction with a huge rollback) would provide a lifetime op to get on board into an "easy" 10 bag, oil prices and Kurdistan not blowing up not withstanding