thanks to PBAY.
Well, Lets back up the train there Skier. The consensus on the board from OCT, NOV, DEC were something like 750 ,2000, then 3000 tests per month, isn’t that the info you received from all those webinars the company held? During those months the SP was sliding, and I was saying they need money, bad! GENs history is to do Notes, which then later get converted into shares, anyone could have verified that on Sedar, but didn't. Other options was to secure debt against assets, but I didn’t think they needed to do that or were that desperate, technically, they weren’t but they tried to issue Debentures (unsecured) and the market said NO CHANCE, this was do to them not testing anything worth talking about, and them coming out of a bankrupt situation. (You still following this Skier, this is why I am so far ahead of guys like you). The only option I saw fit was to do a PP. So that is the story there, and you have my thought process on the topic. Not sure what I was wrong about, they needed financing. They tried to issue Debentures, FAILED, and the only other option was to issue cheap shares ( saw that from the beginning based on history). Yes very wrong I was, they received 30% of their target raise.
Never seen such a group on this board, who actually believe that SH has an effect on the SP, wild! Apparently, I control SH which controls the market, which is the reason for GENs SP falling like a hot knife threw butter.
Back to the attempted raise, they had 2 brokerage houses working the case, Leede Jones Gable, and I forget the other, verify on SEDAR. Yet, my discussion on the GEN board, effected the “market” to not participate in an UNSECURED DEBT OBLIGATION at 8%! WAKE UP!! This is called understanding finance.
On to the pricing of the debentures, I said it was a joke due to all the talk and basically the “confirmed test numbers” broke down by the very few ppl who are now making this personal (750, 2000, 3000). I said, they couldn’t be doing much of anything if this was the deal they were trying to sell. I also said, the proof would be in the pudding based on how fast it was filled. ( Who was right). They received 30% of the requested funds, cut the placement off, and had 2 brokerage houses working the file. They houses would have been calling all clients with the facts they had to sell the placement. For those that don’t know how it works. FACTS! All of this can be verified from the BB Oct-Dec.
Now on to the “peer valuations”- your on your own there, it shows how much you know about the sector or what is going on in the market. I will not share anything with guys like you and your lost puppy BB buddies. I do all the leg work here as it is, why would I give you that info. How about you present the board with something of substance? It appears you have a hard on for me, and chose to attack, rather that follow what I am explaining. Your loss.
You better understand the difference between “short term expense” and “operating expenses” GEN is printing shares to survive, “operating expenses”. It has been the same draw from Oct-Dec, then doubled end of Jan to pay for Feb and Mar. A line of credit is last resort. Shows how little you know about business and finance. GEN didn’t want the shares outstanding to keep increasing as they are issuing all this “good news.” That would just look bad, wouldn’t it? That is what I meant in my previous posts about how they issued the last 2 million shares. Comical.
As usual Skier, I wasted 5 mins on this post. Were you not telling the board on Friday that it was impossible to know that they were broke and how much they were testing? Glad your coming around. Your welcome. Free education. GL
pbay
| T : GEN | 2017-03-15 | 10,000 | 4,444 | 81,655,229 | 0.01 |
| T : GEN | 2017-02-28 | 5,556 | -8,444 | 81,655,229 | 0.01 |
| T : GEN | 2017-02-15 | 14,000 | 13,397 | 81,655,229 | 0.02 |
| T : GEN | 2017-01-31 | 603 | -212,943 | 81,655,229 | 0.00 |
| T : GEN | 2017-01-15 | 213,546 | 212,946 | 80,355,229 | 0.27 |
| T : GEN | 2016-12-31 | 600 | 117 | 80,355,229 | 0.00 |
| T : GEN | 2016-12-15 | 483 | -1,270 | 79,408,944 | 0.00 |
| T : GEN | 2016-11-30 | 1,753 | 1,133 | 78,408,944 | 0.00 |
| T : GEN | 2016-11-15 | 620 | 120 | 76,761,267 | 0.00 |
| T : GEN | 2016-10-31 | 500 | -6,031 | 76,761,267 | 0.00 |
| T : GEN | 2016-10-15 | 6,531 | 6,011 | 72,877,641 | 0.01 |
| T : GEN | 2016-09-30 | 520 | -496 | 72,877,641 | 0.00 |
| T : GEN | 2016-09-15 | 1,016 | 416 | 72,538,939 | 0.00 |
| T : GEN | 2016-08-31 | 600 | 282 | 62,744,736 | 0.00 |
They draw on a credit facility to pay for operational expenses. Q4, same as Q1 in terms of drawing on credit via shares. GL
Read more at https://www.stockhouse.com/companies/bullboard?symbol=t.gen&postid=26025726#fdwvYx41pf5i3MU7.99