GREY:CRRVF - Post by User
Comment by
ICT1111on Mar 22, 2021 6:58pm
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Post# 32855355
RE:RE:RE:RE:RE:RE:RE:What’s the hold up ? Few weeks lol
RE:RE:RE:RE:RE:RE:RE:What’s the hold up ? Few weeks lolNastro..... I think you nailed it with your earlier post and Looney added some more colour.
As said a hundred times. The deal has to be investable. New money don’t like paying old debts. New money don’t like seeing the old guard rewarded for failure.
Picture yourself in the sharks tank, bull pit, dragons den......
‘So you have potentially 240 million shares (including 55m 10cent warrants’
’yes’
’and you need to raise C$5m’
’yes’
’with over C$3.5m of that paying old debts’
’yes’
’and in raising the 5m at 50 cents you are offering us the opportunity to buy 10m shares’
’yes’
’so we own 2.5% of the stock for our C$5m and you therefore value the company at C$200m?
’eerrrr’
’What if we can’t raise at 50 cents, what if at 10cents, like your warrants?’
’eerrrrr’
’Then we pay C$5m for 50m shares and own 50/290 = 17.25% of the business..... so you value the business, right now at C$29m even though both companies are technically bankrupt’
’eerrrrr ...... I’ll get my coat’