RE:RE:RE:RE:RE:RE:RE:RE:SNV Forum ark88 wrote: StratCap wrote: copperplay wrote: ark88 wrote: SMlachake wrote: Sub, does that include Kirk in your opinion? Are we painting him with the same brush due to association if we believe there could be a reason for silence?. Anyways, now a question for Copper, why would SNV cooperate to devalue themselves if they are to convert dept to equity? But even if they did, and they still get an additional stake, upto another 24% with reserves report, should they not just conclude the deal and we move on? What are they waiting for? ( that last bit was really not for you). And what happened to the wealthy investor they were to bring on board, I was expecting that to be the one footingthis bill for equity? Do you reckon it is SGE?..
Facts as we know it:
SGE holds Convertible Debentures covering the bulk of our debt which can be exercised at $0.085 during the first year and $0.10 during the second year.
SGE signed a MOU reaffirming SNVs rights to the additional stake if certain deliverables were completed.
Ark88 we are now past the 3rd year so these prices go out the window...or stock would trade at 10 cents
You would think that being overdue on the maturity of the debenture is material news and the company should update shareholders on how its being handled between the two parties. The monies owned under the loan and debenture represent over 20% of the current market cap of the company. I find that very material and long over due for an explanation.
Continued Good luck to all.
Well we do know the status of the Debentures by way of a Notice of Default from SGE to SNV, which was released publically via NR.
I'm very mindful here of Confirmation Bias, which is an ever present danger with penny stocks with little news. I try to stick with what I see as the most probable given the available information.
I remain hopeful. GLTA!
Yes Ark, we went from a notice of default by the partner and asking SNV to relinquish their 25 % interest in the PSC to a MOU where SNV will receive a further interest in the PSC upon SNV commissioning and completing a reserve report. So i can only assume the debenture and loans have either been extended or renegotiated by the parties. I would just like to know the details around that as it is more than 20% of the market value of the company. Which is a material amount of value and represents a control block.