BioExx Specialty Proteins Ltd BIXZF

Debt Facility

[crocks31]

I've been reading all your posts for some time and i think your assumptions are wrong on the debt facility.  BXI never signed over the entire company; they just secured their loan against their assets.  They would only lose everything if all of their assets and IP were valued at under $6.5M plus the interest owing.  Worst case scenario would be if the GEA report came back and the technology wasn't there.  That would mean the IP is useless and they would sell the plant and land to pay off their debts which makes no difference as the company would be worth nothing.  If the GEA report is positive as it is expected and they couldn't get additional financing and defaulted then they would need to sell the land and physical assets which are worth more than the debt to Rompsen.  The IP would still belong to BXI.  I have no idea where you get the valuation for the entire company being the debt to Rompsen on a plate.  They are only entitled to get what's owed to them and not a penny more. 

 

BXI currently has assets of $70 million and debts of $10 million.  If they defaulted they may need to sell some land or plant equipment to cover the $7 million and change owing.  They would still own the technology.

[1320racing]

This post has been removed in accordance with Community Policy

[shortthemkts]

stay focused on what's important. BXI does not have a commercial product. After fifty plus million spent they still have nothing to show. a failed experiment. the end

[DrAudit]

Nothing?  Three tonnes of unsellable cr*p if you please.

[DrAudit]

I mean really.  Three? And we still pump.   Game over.