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Reckon Ltd T.RKN


Primary Symbol: RKNLF

Reckon Limited is an Australia-based software company that provides software for accountants, bookkeepers, lawyers, small and medium enterprises (SMEs) and personal users. The Company’s divisions include Business Group and Legal Practice Management Group. Business Group provides accounting and payroll software for small to larger sized businesses and personal wealth management software branded as Reckon One, Reckon Mobile and Reckon Accounts Hosted (cloud products), Reckon Accounts Business and Reckon Accounts Personal respectively. The divisions operate predominantly in Australia and New Zealand. Legal Practice Management Group provides practice management software and workflow solutions to legal firms for document scanning and routing, print management and cost recovery solutions under the nQZebraworks brand, with a focus on releasing new cloud practice management products. It operates predominantly in the United States and United Kingdom, with re-sellers in other parts of the world.


OTCPK:RKNLF - Post by User

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Post by factRbeston Dec 21, 2016 7:13pm
113 Views
Post# 25632668

Shareholder interest

Shareholder interestYou see this is how it is done.
This being a 6 penny stock with a 10 million market cap.

Even the debt holder got into the Christmasd spirit.
https://www.newswire.ca/news-releases/intermap-announces-debt-restructuring-and-equity-rights-offering-607802706.html

As part of these arrangements, Vertex has agreed to provide a Standby Purchase Commitment to backstop the issuance of US$6,000,000 of the Corporation's common shares through an exempt Equity Rights Offering to all existing shareholders (the "Rights Offering"). The proceeds from the Rights Offering will be used to repay the Bridge Loan described below. It is anticipated that the Rights Offering will be completed during the first quarter of 2017.

In conjunction with its Standby Purchase Commitment, Vertex has provided a new US$6,000,000 Bridge Loan to fund general corporate purposes until the Rights Offering is completed. The Bridge Loan will be repaid from the gross proceeds of the Rights Offering (including proceeds received in connection with the Standby Purchase Commitment). Any unpaid amounts under the Bridge Loan, following the Rights Offering, if any, will convert into a term loan with a maturity of September 1, 2020. The Bridge Loan is non-interest bearing.


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