RE:RE:RE:RE:Do you see that QIC will come back in the next days praesens1 wrote: Loan $11,000,000 repayable within 30 months is $4,400,000/year.
Interest rate 16 % is $1,760,000/year.
Makes $6,160,000/year excluding effects on tax.
LBI´s net income pre tax is$7,600,000/year according to NR Quantum August 18th.
They own 51% of LBI so their part of the net income pre tax is $3,876,000/year.
So with expenses for "buying" income being higher than the bought income ...
Sorry I'm trying to piece this together.
On the Aug 17 NR it says "
LBI's unaudited gross revenue and pretax net income was US$10.6 million and US$7.6 million, respectively, for the 12 month period ended December 31, 2015." So did they not gross $18.2 in 2015? Which 51% would be more than $9 mil?
Also on the Oct 24 NR it says "
Corporation acquires 51% of Lucky Bucks, a Georgia company with June 30, 2016 YTD EBITDA of US$5,718,289"
I have the yearly loan repayment as $5.3 mil including 16% interest, so it seems they are making a profit right off the bat, before taxes. Will also depend on how much money comes in second half of this year.
Please correct me if I'm wrong, im new to all of this just trying to make sense of the SP, I know the dilution doesn't help either.