RE:RE:Shares outstanding as of 1 FebruaryHmm. Math is relatively simple, and so I assumed others were generally aligned.
Key facts: 1. Hexo disclosed 355m shares outstanding as of December 14. 2. Hexo disclosed that prior Secured Note repayment amounts were paid in cash. 3. Noteholder has taken every opportunity to de-risk (has asked for every principal payment possible0. 4. Hexo has paid in equity for all prior payments. 5. Hexo has no way of generating USD22m per month in operating cashflow. 6. Repayment amount will be from either ATM or from conversion.
Results:
End of December principal payment of USD22m = ~CAD28m. Price for conversion = ~CAD0.90. Shares = ~31m.
End of January principal payment of USD22m = ~CAD28m. Repayemnt from building disposition = ~CAD10m. Net deliverable = ~CAD18m. Price for conversion = ~CAD0.68. Shares = ~CAD26m.
355 + 31 + 26 = 412m.
Has everyone else not done this math?