RE:Shares for debtgaserx2 wrote: Here is the link and announcement re the shares for debt dated June 22nd 2022.
https://infoventure.tsx.com/TSXVenture/TSXVentureHttpController?GetPage=NoticesContents&PO_ID=1126352&NOTICE_ID=275398&HC_FLAG1=on
VERISANTE TECHNOLOGY, INC. ("VRS.H")
BULLETIN TYPE: Shares for Debt
BULLETIN DATE: June 22, 2022
NEX Company
TSX Venture Exchange has accepted for filing the Company's proposal to issue 15,154,182 pre-consolidation common shares at a deemed value of $0.05 per pre-consolidation share to settle outstanding debt for $757,709.10.
Number of Creditors: 1 Creditor
The Company shall issue a news release when the shares are issued and the debt extinguished.
Yes, and I still say I do not understand how these shares had a deemed value of 5 cents at "pre-consolidation". They were not above 1 cent. Because it's "deemed" does that mean they can put whatever price they want in there? Paper numbers have no bearing on the real transaction -- who comes out on the short end of the stick?
Having been in this stock for as long as I have nothing surprises me. The consolidation was just a given. I thought maybe, just maybe, I would get some slim opportunity before it happened but sure enough - no such luck,
Now the question is what kind of a two bit operation will they put together and will it do a ten times improvement to get any kind of reimbursement? Not very likely. But those that have it in their taxable accounts will finally have the opportunity of claiming a tax loss.