GREY:IPRSF - Post by User
Comment by
Seadooxp1on Nov 29, 2016 7:31pm
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Post# 25530853
RE:cfps by qtr
RE:cfps by qtr
IMO, until they deal with there expensive debt, I think the sp will continue to be stuck. With that said, I found this interesting in the press release.
Tangelo’s management team is focused on its obligations to its lender, Third Eye Capital
Corporation (“TEC”), including its requirement to make certain payments by the end of 2016.
While the Company is not yet in a position to provide a definitive update, management
anticipates a positive resolution of its obligations to its lenders before the end of the year.
Tangelo’s management has a transparent, collaborative relationship with TEC with whom it
communicates regularly regarding its business, its prospects, and its strategic alternatives.
Management is in specific discussions with a number of parties regarding potential strategic
and financial transactions, and is evaluating these opportunities in partnership with TEC as a
top priority.
We would also like to note that TEC is in fact the Company’s largest financial sponsor by a wide margin, and TEC has been supportive of the Company throughout its history, and continues to be supportive of the business and shares management's vision of building a larger, more competitive and geographically diversified social casino business that leverages best practices in product, marketing, and systems.