RE:RE:worth 4 x 3.8 = 15c a shareSmiles48 wrote: nanaimo16 wrote:
if the whole thang is flogged worth minimum of 15c a share.
If that was the case the now ex-CFO and the CEO would have announced it by now. My feeling is they sold the company for the amount at which it is trading (0.04) or maybe 50% of that, desperate measures, desperate value.
Impossible. They need to finalize approval of their last set of financing and selling it for .04 or less would guarantee it will not be accepted. There would be a price to pay if they even thought of doing that. It should be .05 min but most likely .10 min. Also I don't think they're desperate considering the company is in the best position they've ever been. Good enough to bought out actually.
The Corporation also announced today that it closed a non-brokered private placement of CDN$449,360 (the "Offering") of debenture units of the Corporation ("Units") at a price of C$1.00 per Unit. The Units are comprised of C$1.00 principal amount of convertible unsecured debentures ("Debentures") and two common share purchase warrants ("Warrants"). The Debentures have a term of 18 months, bear interest at a rate of 12% per annum paid semi-annually in cash and are convertible into common shares ("Common Shares") of the Corporation at the conversion price of $0.05 of the principal amount outstanding until January 5, 2018 and into one common share for each $0.10 of the principal amount outstanding for the period from January 6, 2018 until July 5, 2018. Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.08 per Common Share until July 5, 2018. The securities issued pursuant to the Offering are subject to a statutory four-month hold period from the date of closing. Net proceeds of the Offering will be used for general working capital purposes. The completion of the Offering is subject to the approval of the TSX-V.
In addition, the Corporation has settled outstanding indebtedness of C$26,464 through the issuance of 529,280 Common Shares at a deemed price of $0.05 per Common Share, subject to the approval of the TSX-V.
Read more at https://www.stockhouse.com/news/press-releases/2017/01/11/fantasy-aces-daily-fantasy-sports-corp-provides-corporate-update#R6UFPUsdPzZdc4s0.99