RE:RE:RE:RE:RE:RE:RE:RE:RE:Predictionsmartindale wrote: StratCap wrote:
copperplay wrote: Settlement of debt how? Raise cash and pay it off or offer equity in Snv?
In the fourth quarter, PT Sumatra Global Energi (“SGE”), Sonoro’s joint venture partner of the Selat Panjang Production Sharing Contract (“PSC”) has advised Sonoro, via Asiavest Trust, Sonoro’s Trustee representative company in Singapore,
that Sonoro is in default of the Convertible Debenture and Loan for approximately $1.6 million and $300,000
This needs to be dealt with at some point. The $1.6 million was convertible into shares at .10 if converted in year 2 if memory serves me correctly. It's past year two.
: So are you trying to imply that this wasn't already considered?
Not sure what you are getting at Martin. I was answering a question posed by Copper. Not implying anything.
This is an agreement between SNV and SGE that as of last filing is still on the books and is past the debenture's maturity date.
Do you have info to add that is not in the filing?