GREY:MRRCF - Post by User
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DSeng89on Jul 30, 2018 11:15am
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Post# 28385200
RE:RE:Maricann PP
RE:RE:Maricann PP Sorry, dire may not have been the correct term to use and my mistake as well as it seems like I missed the acceleration clause on the press release. This makes the revised PP much more balanced than I thought.
BatmanMTL wrote: DSeng89 wrote: MARI's in a position of weakness as we are all well aware that they are in dire need of cash. With this PP annoucement, there's a bit of good and bad. The good news is they are reducing the total $ amount of warrants being issued which in short means less dillution; However, I'm assuming they're having a bit of difficulty filling the PP because they've had to lower the strike price on those warrants from $2.50 to $1.75. Bottom line is we need them to get cash so they can execute on their initatives. Short term, we may feel some downward pressure, but with the warrants looking super juicy now, I can see accredited investors taking advantage of the new lower strike price.
D, they are not in DIRE need of cash. They had $42M on March 30 2018.
They have had zero difficulty filling the PP. I know because I tried to increase my initial allo of $10k to $50k and was told no, we are capacity but waiting for official allos from Maricann.
They lowered the warrant from $2.5 to $1.75 (good for PP investor) due to accererated clause of 10 days over $2 (bad for PP investor) = balanced.