Sproutly Canada Inc C.SPR

More debt settled...

[SUMKNDV1DERFL]

https://financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/sproutly-announces-shares-for-debt-transaction-2

[Blizzy420]

Thanks Sun.   This is dilution is getting a little old .... the only Sproutly news we get is more dilution.   My patience as being tested last year at this time, now it is wearing thin.   Health Canada is ruining the Canadian market with their hoops and regulations while the big money lenders fleece the small cap companies day in and day out. I still have faith in the industry

[ScotiaOne]

I'm going to keep the rose coloured glasses on for this one and assume that debt holders agreed to the deal willingly as oppossed to finding themselves being SOL. Realistically any one of these debt holders could start putting holes in the Sproutly boat (rubber raft?) but choose instead to keep it afloat. The second assumption is that the information they were given to help facilitate that

[SmileyCat]

Exactly. 1 deal and this all goes away. I know finalizing JV takes time. And a lot of it was wasted on MH. Sen should of let Doto fall on this knife. But 2 JV’s and a Pepsi distribution deal was announced in the US within the last 60 days. Surely something has to be in play in Canada, EU, UK, Jamaica, Israel, and Australia. That’s billions and billions of people who could benefit from the APP tech

[munchtrade]

Impossible to know. I think either way the debtholders have no choice becuase there's really nothing to reclaim if they try to call on that debt. They sort of have to take the amended terms and lower conversion to try and get out of this dumpster fire with the least amount of pain possible. I'm sure Sen is whispering into their ear on what's to come as well in order to pacify them.

[SmileyCat]

The only problem Munch is that every time Sen lowers their conversion price. The MM puts the ask price below it. So at this rate they’ll never get out. Need news! Bring Kalo and RIJUICE to Canada! We already have the formulations, FDA approval, and Pepsi willing to distribute. HC should’nt have a problem. MH exclusivity deal is gone. And your sales force that landed these JV’s is already in place.

[SUMKNDV1DERFL]

I would have to agree that the creditors willing to accept shares is a good sign.  I believe they do have a choice.  They could force solvency and seize what ever assets $PR Canada Inc/$PR/Infusion Biosciences Canada/THR/SSM Partners Inc/MiST currently hold.  It may or may not be much but if the ship were sinking, the debt rats would be scurrying well before us private investors

[HawkII]

SUM kind of post. You really should do your homework before SPRouting. I guess you missed the original new release for their last raise in Oct 2018 and every repricing since. It's UNSECURED amigo, which means they can seize nothing. I've included a link for you as well on what an unsecured convertible debenture actually is. https://www.newcannabisventures.com/sproutly-prices-20

[Hailmerry]

Don't answer him Sum, he must know how good Sproutly will be or he wouldn't keep hanging around.

[SUMKNDV1DERFL]

Thx HM, I would not waste anytime.  But, for those wondering about UNSECURED. Assets can be subject to liquidation for solvency purposes. I was not referring to any secured or unsecured debt in particular, it makes no difference in the end in the sense that it leads to stripping of assets to extinguish debt and to prolong or evade bankruptcy either way.  As I said before, $PR and

[OldManCanuck]

Great post SUM.  Great facts, great points, great attitude, and great to have you around. Cheers!

[ThermaBright]

This post has been removed in accordance with Community Policy

[MoneyTalks7]

SUM thank you so much for sharing, really enjoyed the facts!

[SmileyCat]

Thanks Sum for the research. Just trying make sense of it all north of the border. I to see these creditors taking shares as a positive sign and a reward for there continual support. Wouldn’t make sense for Sen to pull the carpet out from under these guys on Oct 24th. Those articles and the KALO, really IBS’s ;) distribution deal certainly highlights Pepsi’s desire to be at the forefront of the

[fedor604]

  Enough with this Pepsi talk song... you know how many companies use Pepsi bottling Corp to bottle there products? It's a lot, not every company strikes a deal with Pepsi because it's being bottle at a facility that contracts for many small companies....

[HawkII]

Did anyone notice no auditor review of last financials despite SPR delaying financials a few times by blaming covid to get statements prepped. Last financials (as of May btw) show $25k in revenue, op expenses of $869k (mostly G&A), and current liabilities of $8.5M.  And language in YE financials is "material uncertainty related to going concern".

[Gman620]

Thanks for your comments, SUM. You are spot on. I think the most valuable asset they can barter for is time right now. Extending due dates is the only defense against whatever is happening with HC. Something smells fishy with the licensing, Covid or not.

[TheDiggs]

Fishy Indeed, enough to make me nervous anyway. Has been 2 years of nothing positive. 

[OddFellow1]

How has Health Canada dealt with Dr. Sens Developed Analytics?. thats the hold up on everything.... A new Technology with only 1 way to test its efficacy and purity..... Dr. Sen delveloped that too..... If it isn't Health Canada's design or idea.... it'll sit on the shelf for ages.... we are in for a long, long wait! Once Dr. Sen's Developed Analutocs gets approval.... the the

[fedor604]

  I said that health Canada didn't allow app long time ago. Sen devolved that method with the sketchy company that hawk post about. i was told long ago that health Canada would test there app product and would come back 0 thc etc... and obviously health Canada isn't going to use some sketchy procedure made up by Sen and a company that don't exist to change up how they test

[LI4VESTREAM543]

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[TheDiggs]

Oddfellow, that's the problem... Spr is struggling to keep their heads above the water. They have no time left to wait. No cash flow to enable them to wait. 

[HawkII]

Unless one of your debtholders is a hedge fund ... I'm sure everyone saw this article https://archive.is/IQTMz

[Fedorsbabydik]

This post has been removed in accordance with Community Policy

[James1988]

Hey Jeremy, let's save your useless preaching for Facebook, hey wait a sec nobody actually cares about your mumble jumble lol

[Hailmerry]

Excellent, every long on this board must use the golden rule. Ignore,ignore,ignore all the boneheaded bashers. GLTA.