Regenx Tech Corp. C.RGX

$2,000,000 debenture

[calerxx]

Page 13 of the financial statement mentions the debenture the company has with a third party. I was under the impression this money wasn't accessible yet according the the accounting it's implied RGX could redeem this loan at any time without penalty?

If this is true this would sound like amazing news, and could nearly double their cashflow position at any moment. Can anyone correct me if I'm misunderstanding this?

If true it would be a bullet in the barrel after a few months of successfully processing material to purchase more feedstock without as much concern for the revenue turnaround.

Note Receivable

On January 6, 2022, Regenx loaned $2,000,000 to a third party and in return received an unsecured debenture that matures on June 20, 2025, and accrues interest at 5%. The accrued interest is payable on redemption of the debenture and there is no penalty for the early redemption of the debenture.

[calerxx]

I suppose the downside would be losing out on interest accured as a penalty for early redemption. If the debenture matures on june 25, 2025 it would be a tragic loss to redeem it prematurely and lose out on the extra interest (assuming that's in the agreement).

[lscfa]

RGX owes $2M to a note holder so this cancels the $2M it lent out. 

[calerxx]

Ah thank you

[Atechnician]

Did RGX lent that $2M to Iron Bull? "... On May 28, 2024, the Board of Directors of Iron Bull agreed to settle amounts owed to Regenx Tech Corp from Iron Bull Mining for property... " " ...Subsequent to the year end, the Board of Directors agreed in principle to transfer the Cehegn property to Regenx in exchange for the balance of debt owing to Regenx. As a result, the property

[lscfa]

This no longer appears in Q1 2024 fins. What happened?

[lscfa]

Included in Note 17 of annual fins but gone in Q1 2024 fins:    On December 23, 2021, the Company issued a $2,000,000 debenture that matures on December 20, 2024 and accrues interest at a rate of 3%. The accrued interest is payable on redemption of the debenture and there is no penalty for the early redemption of the debenture.

[lscfa]

The maturity date was Dec 15, 2024 until recently. Mgmt needs to explain the change.

[lscfa]

I suspect they lent the damn money to Davis. So what the hell is Davis really chipping in to earn it's 45% of profits.