News release comments Mr. Embro-Pantalony said, "While the complexity of the LumiSort™ partnership discussions, combined with the number of potential parties involved, has resulted in a lengthier negotiation process than we originally anticipated, we are moving closer to a deal that we believe will provide the most beneficial terms for Microbix while unlocking maximum value for our shareholders. We will, of course, provide updates as developments materialize."
Good news. As soon as something is signed we will see a pop in share price. Depending on who joins and structure of deal the pop could be very big. Either way it wiIl pop once signed.
Who scored this deal? Ten percent return for a one year facility to a company that is at near zero percent chance of failing. I would want in on that. --> ",The company has arranged a short-term credit facility of $200,000 with two insiders of the corporation that can be drawn upon to enhance its working capital. The facility is unsecured and carries an interest rate of 10% and a maximum term of one year. The facility is non-dilutive involving no securities of the Company."
also anyone understand how they can earn $400,000 from a prospective distributor of lumisort? What did the prospective buyer get for that money?
despite the drop is share price this year from high $ 0.80s, that can easily be made up from one good announcement. I am not discouraged. I ask myself if I would buy in at current levels and the answer is a definite yes. Hard to find reasons why the price will go down from here.