M D & ARead it all very carefully folks.....I am not a financial analyst....but I do recognize the big bad word that starts with B, ends with T and has 6 letters in between. IMO, that describes us at this moment.
We are in an absolutely precarious position, with little recourse that is evident to even attempt any kind of righting of this ship. Sad, sad, indeed.
Who in the world is the person worth $70,000.00 PER MONTH!!!!!! Read it yourself in the M D & A.
In a 19 month period as reported in the M D & A see the progression on FNC ownership of KWG....and note the drastic negative inverse relationship between the number of interest shares KWG had to tender to satisfy the interest on the $34.5m loan, and the decreasing value of said shares (posted below.....right from the M D & A).
As I said in a previous post....The Noose Tightens.
We are now just 21 months from the maturity of the FNC loan. We have a yin yang of complicated, and convoluted debt aside from the FNC loan.
Interest payments due to Fancamp under the terms of the Secured Convertible Debenture were paid by issuing MVS to Fancamp. An interest payment of $510,411 due on November 30, 2022 was paid by issuing 159,783 MVS at $3.1944 per share, an interest payment of $510,411 due on February 28, 2023 was paid by issuing 175,525 MVS at $2.9079 per share, an interest payment of $521,753 due on May 31, 2023 was paid by issuing 208,259 MVS at $2.5053 per share, an interest payment of $521,753 due on August 31, 2023 was paid by issuing 227,343 MVS at $2.295 per share, an interest payment due on November 30, 2023 was paid by issuing 332,213 MVS at $1.553 per share, an interest payment due on February 29, 2024 was paid by issuing 344,100 MVS at $1.50 per share, an interest payment due on May 31, 2024 was paid by issuing 447,626 MVS at $1.166 per share and an interest payment due on August 31, 2024 was paid by issuing 361,976 MVS at $1.441 per share