RE:RE:RE:RE:Resverlogix Announces Conversion of US$12 Million Debenture Oct 6 financing was for 10,560,000 equity units at a price of $1.25 plus warrants – that’s another hidden 10.5M shares;
Oct 14 - 16.1 million common shares at a price of CAD$1.08 per share.
Thought we were going with option 1? what else is in store?
meh, dont mean to b negative nelly. sure, we needed to get out from under the boot and reclaim the IP...i guess one knew this day of rekonin was a comin, the terms of the deal were set way back when...we got fleeced to get into bed w the devil and we got out and lost some skin, and a board seat....one expensive financing...we just committed to about 8-10% dilution oct 6 @1.25, plus warrants, then the mafia swooped in and kicked the SP in deez nutz right according to schedule, and now we got another hit of about 7% dilution of maybe less if u factor in juicy warrants. It is good news that we’ve cleared this hurdle. Too bad it was a beat down in the beginning to get us here, and another beat down to get out of a bad deal we never shoulda got into in the first place, but I’m crying over spilled milk I guess…
last time we got out of the debt mess we had a pretty decent immediate surge cause DM said a bunch of big Canadian Toronto firms couldn’t invest in any company which carried debt…well, we got no debt…I’m not gonna turn my nose up at about 9% return today, but when ur down 70-80+%, well, where's the big surge. Whatever drove us up a few weeks back from the .70’s to 1.5+, back down we came and surprise surprise u can point a crooked finger about who benefited the most… congrats on the conversion at 1.08 instead of 1.5+, we never should be in this crappy situations…I play chess, not checkers….
just the cold hard realities of business I guess. I feel like we’ve been kicked so hard and so many times, recent financings have been very, very expensive and don’t really seem to be in our best interests – other than giving us the money to keep limping along. I just wonder what the end game is gonna look like? are we throwing on the barry white, getting our finest box wine out and all lubed up, only to be ghosted? Or is all of a sudden a magic gold nugget gonna be dropped on us? Or bent over, like pretty much every other recent financing? At least it wasn’t bloom burton this time around! I hope the foreign gov’t approval required PP goes the way of the never executed bloom burton deal… I still struggle w/ that part…could the foreign gov’t be a European gov’t? Israel/ medison connection at play? Or China again in play? We didn’t need Chinese gov’t approval (that we know of) for our debt offering to ORI, nor hepalinks many cash infusions along the way, so what gives? What gov’t?
Anyways, this clearly removes an overhang. If no Canadian $ would invest in a company w/ debt, who’s gonna invest in a co which doesn’t clearly own its own IP! so maybe we’re off to the races…
lemme scratch my head and update my models under another dilution scenario….might have to adjust the dreams somewhat lower….again…
go rvx go!