RE:RE:RE:RE:FinancialsFully agreed we have a way to go but TRIP continues to make great progress for a company this new. I'm not really sure how my reference to gross profit was misleading, but if it misled anyone somehow that certainly was not my intent. Re. the promissary note, it is 300,000 euros, which is $442,770 in Canadian. There is no payment forecast because the note is due March 19, 2023, and there are no payments due. They just have to pay off full amount by that date, and the note can also be paid off with shares. So nothing out of the ordinary there, and I would say that is a whole lot better than paying that money to previous SR owners in cash upon closing. Re. the consulting fees, I am just going to have to agree to disagree with you on that point, as I don't think Creso deal falling through is Linton's fault. If anything I think the fact that TRIP got $400k for it falling apart shows that Linton was looking after TRIP's interest quite well.
On March 19, 2021, the Company acquired a 100% interest in SR Wholesale BV (SR) for consideration of $2,153,495 comprised of $1,406,690 (€953,207) in cash plus an unsecured convertible promissory note to be issued for $442,770 (€300,000) plus the recognition of the fair value of the conversion feature. SR has established a distribution network of over 300 companies that sell its products across Europe. The promissory note, denominated in Euros, carries an annual interest rate of 5% for 2 years and matures on March 19, 2023. The note can be converted into shares of the Company at a conversion
price of $0.38 per share. BrokerG wrote: I was not expecting them to be protitable this quarter either. However your reference to gross profit was a little misleading. We have a long way to go. In regard to the promissary note- look under the footnotes in Sedar- by the way 442,000 euros is = $772,000 CDN that I was refering to. The footnote clearly states- no payment forecasted. In regard to the Consulting and other fees my point was very simple. That is alot of money for NO results. As a matter of fact , all these fees resulted in our share price dropping from the mid 30's to low teens. Nice investment.
All I want to hear from mgt is; How they are going to get this share price back to were it was , just a few months ago. The market has made its analysis and has shown that we are going nowhere soon.Mgt has to Get out there and SELL SELL SELL, this company merits to larger investors. Its not rocket science. If all of these acquistions and projects are such a fantastic investment the sales job should be easy.