Tangelo Games Corp. IPRSF

Technology Electronic Gaming & Multimedia

"Tangelo Games Corp is engaged in developing and selling social casino games. The company primarily designs, develops and distributes social casino-themed games within online social networks such as Facebook, Mobile platforms, Portal and other. It derives revenue through the in-game sale of virtual coins most of it is accounted through Facebook."

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Tangelo Games Corp. > From Q2

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Comment by Seadooxp1on Aug 30, 2017 2:06pm

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Post# 26638293

RE:RE:From Q2

Nervous64 - your post caused me to dig a little deeper into the financials because of your comment "the interest and fees being paid is staggering"

If you look at the B/S there is $88 Mil in long term debt. Below are the rounded numbers paid for interest alone:

2015     $ 10 Mil
2016     $ 20 Mil
2017     $ 20 Mil (assumed as 1st six months was $10 Mil)
Total      $50 Mil

At this rate the lenders will have fully recovered there original loan at the end of 2019 and the company will still owe $ 88 Mil!

No wonder Lanthier owns no stock and there not closing a deal. He'll just keep accumulating his outragious salary and probably get a sweetner from TEC when a deal is done.