RE:RE:RE:World's Biggest WET dreamAt the end of Q3, $1.7m cash left in the bank account and about twice that amount of convertible debentures coming up in total by mid-June 2023, of which $1.4m by mid-Feb 2023.
4 and a half pages in the financial statements is a lot of reading to figure out all the details as to what may happen, but at the current rate of sales and the time needed to implement any current and future sales, I don't think that they will generate sufficient cash to just pay up the debt if the holders do not wish to convert into shares. I do note that some portions of this debt sound like they could be converted into shares at 10 cents, which gives it a better degree of likelihood than anything close or above 30 cents.
Anyhow, let's see what other sales some of their distributors communicated as probably being signed by the end of the year come up this week, if significant enough to announce.
"....Based on our communications with our distributors and partners, we anticipate several Sales Pipeline projects to begin converting into Sales Order Backlog before the end of the year with continued conversion momentum in 2023,” says Hanspaul Pannu, Chief Financial Officer of SHARC Energy. (Nov 29, 2022) The wait continues.
Happy remainder of the holiday season and New Year!
Tim2Agami wrote: Mostlyserious wrote: LOL! If they could find a way to recover all the investor capital that went down the drain. $4 for every $1. That would be something.
Market not impressed by the last press release. Almost like the market gets excited by $ figures. Largest system, cities around the world calling every day, things like this for some reason do not seem to resonate.
The wait continues.
.... and fast forward two years from December 21, 2020... Just how have those 10 million 30 cent shares and one million 45 cent warrants been doing for ya? What's that strange growth in the pipeline again? A fatburger you say? Tampon tangle? bamboo blockage? Who ya gonna call?
VANCOUVER, British Columbia, Dec. 21, 2020 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the “Company” or “SHARC Energy”) is pleased to announce it has completed the sale of 10,001,000 common shares (each, a “ Share ”) on a non-brokered private placement basis at a price of .30 per Share for gross proceeds of $3,000,300 (the “ Offering ”).
Insiders of the Company invested $186,000 in the Offering.
The proceeds from the fully subscribed private placement will be used for general working capital purposes in support of its sales and marketing efforts. In connection with the Offering, the Company paid eligible finders an aggregate cash fee of $150,015 and issued 1,000,100 compensation warrants to eligible finders (the “ Compensation Warrants ”).
Each Compensation Warrant entitles the holder thereof to purchase one Share of the Company at an exercise price of .45 for a period of two years following the date of issuance.
https://stockhouse.com/news/press-releases/2020/12/21/sharc-energy-fully-subscribes-3-0m-private-placement