Short Runway to Take Flight or Crash
Greenstone had given the Company relief from financial disaster in 2016 when it agreed to accelerate conversion of its debenture into 100 million new shares@ $0.10 rather than $0.04 whereupon Greenstone would have secured 64% of Coro's stock. Alternatively, they could have forced the Company into bankruptcy as COP had no means to payoff Greenstone...Fast forward to now, in less than a year's time, Coro will face another precipice as there is no way it can pay off $8.0 million (US) in loans @15.0% that is costing the Company about $1.5 million (Can) in yearly interest expense alone...The handwriting is on the wall concerning the Strategic Review - keep the stock depressed so there is some meat left on the bone. Why? In any takeover or LBO, the acquirer has to offer a reasonable premium over the market price or could face oppression remedy. It is well settled in takeover law that for a public company, any takeover offer will be considered equitable provided there is a "reasonable" premium over the market price. This stock is a P.O.S. by any other name, it still smells shitty.