RE:I wonder ….. When you have no money you are kind of strapped but for some things you can always issue more shares.
Edgewater Wireless to settle $18,047 debt with shares
2023-06-02 14:07 ET - News Release
Mr. Andrew Skafel reports
EDGEWATER WIRELESS ANNOUNCES PAYMENT OF DEBENTURE INTEREST
Edgewater Wireless Systems Inc. has elected to satisfy its obligation to pay an aggregate of $18,047.12 in interest as of June 1, 2023, to the holders of its unsecured debentures issued Sept. 1, 2022, through the issuance of an aggregate of 334,822 common shares of the company. The debt shares will be issued at a deemed price of 5.39 cents per share in full satisfaction of the June 1 interest payment obligation in accordance with the terms of the debentures. The shares for debt transaction remains subject to approval of the TSX Venture Exchange.
Interest on the debentures is calculated at a rate of 10 per cent per annum (non-compounded), payable quarterly in arrears in cash or, at the election of the company, in common shares. Subject to TSX-V acceptance, any interest that has accrued on the principal amount outstanding under the debenture will be payable in shares at a price per share which equals the higher of the market price (as that term is defined in the policies of the TSX-V) on the date the accrued interest becomes payable, or the volume-weighted average trading price of the shares on the TSX-V for the 10 consecutive trading days preceding the date the accrued interest becomes payable. For more information regarding the debentures please see the company's news release dated Sept. 1, 2022.