RE:No financing or consolidation requiredCompany has 40 million warrants outstanding with $0.15 strike price. If company gets strapped for money it could offer holders a reduced strike price at $0.10 to exercise early. That would raise $4 million with no additional dilution.
"Private Placement Warrants" means common share purchase warrants of the Resulting Issuer to be issued upon conversion of the Subscription Receipts, each whole one of which will entitle the holder thereof to acquire one Resulting Issuer Share for a period of two years at an exercise price of $0.15 per Resulting Issuer Share. The expiry date of the Private Placement Warrants may be accelerated by the Resulting Issuer, at its sole option, at any time in the event that the closing price of the Resulting Issuer Shares on the Exchange, or such other exchange on which the Resulting Issuer Shares may primarily trade from time to time, at a volume-weighted average price of $0.225 for a period of at least 20 consecutive trading days by giving notice to the holders thereof and, in such case, the Private Placement Warrants will expire on the date which is the earlier of: (i) the 30th day after the date on which notice is given by the Resulting Issuer in accordance with the terms of the Private Placement Warrants; and (ii) the actual expiry date of the Private Placement Warrants.
lscfa wrote: Q3 says:
5. LIQUIDITY AND CAPITAL RESOURCES As at September 30, 2015, the Corporation had a working capital of $3,194,020 which compares to a working capital of $2,176,069 as at December 31, 2014. The increase in working capital is due to the financing that was completed during the quarter, this is offset by the losses incurred by the Corporation during its first few months in the daily fantasy sports industry. The Corporation has sufficient working capital to continue operating in the next fiscal year.
Beacon estimates the company can growth revenues to $5.5 million in 2016 with positive cash flow in Q4. This will surely lift the stock price above the $0.05 minimum required to PP on TSXV.