RE:RE:Missouri I guess it just bugs me when in a low interest rate environment a company chooses to use its cash for stock buybacks when they have debt bearing 17% interest. As well as issuing stock options the day after announcing a buyback.
From SEDARS.
EQUIPMENT LEASE
June 30
2016
$
December 31
2015
$
Agreements bear interest at between 0.00% and 17.89% per annum, all maturing by 2018 and payable in monthly
installments of approximately $128,000 including interest 2,542,758 2,687,971
Current maturity – within one year (1,533,809) (1,307,678)
1,008,949 1,380,293
Principal repayments over the next four years amount to the following:
Between 1 and 2 years 750,196
Between 2 and 3 years 255,253
Between 3 and 4 years 3,500
1,008,949
EQUIPMENT DEBT
June 30
2016
$
December 31
2015
$
Agreements bear interest at between 5.87% and 9.89% per annum, all maturing by 2018 and payable in monthly
installments of approximately $31,000 including interest 721,383 902,859
Current maturity – within one year (382,659) (369,442)
338,724 533,417
Principal repayments over the next three years amount to the following:
Between 1 and 2 years 289,305
Between 2 and 3 years 49,419
338,724
8. Share capital (cont’d) The following table provides information about outstanding stock options. Exercise prices in CAD currency For the six month period ended June 30, 2016 For the six month period ended June 30, 2015 Number of options Weighted average exercise price CAD $ Number of options Weighted average exercise price CAD $ Beginning balance 1,466,523 3.96 - - Transactions during the period: - - Issued 292,406 1.67 1,471,489 3.99 Forfeited (95,603) 3.62 (10,884) 4.00 Outstanding, end of period 1,663,326 3.58 1,460,605 3.99 During the six month period ended June 30, 2016, the Company granted 292,406 stock options to management to purchase Common Shares (2015: 1,471,489). The outstanding stock options issued under the Plans are exercisable at prices ranging from $1.67 to $4.00 per share and have a weighted average outstanding maturity period of 3 years. A summary of exercisable options per stock option grant under the Plans is as follows: Outstanding options Exercisable options Issued date Number of options Weighted average outstanding maturity period (years) Number of options Exercise price CAD $ May 5, 2015 1,322,190 2.84 384,298 4.00 May 21, 2015 35,000 2.89 - 3.70 August 17, 2015 29,500 3.13 - 2.30 March 30, 2016 276,636 3.75 - 1.67 1,663,326 3.00 384,298 4.00 The stock based compensation expense during the