1933 Industries Inc C.TGIF

Convertibles

[Lire02]

There doesn't appear to be any chance that  the company can pay off the convertible holders this Sept baring some kind of miracle. Rather than wait for the company to make a proposal with no opportunity ( realistic opportunity), for the debenture holders to discuss the offer , I suggest that debenture holders make some suggestions to the company.

This offer should be made only IF the company can show a realistic path to profitability if allowed to stave off paying down the debt for a year .

My suggestion is: drop the conversion price to 5 cents per share, make all past due interest and future interest payable in cash or shares at 5 cent valuation, and all accrued interest should be paid out to debenture holders up to  the Sept 21 due date , 2022: Cash or 5 cent shares!

That would be a reasonable offer, but only if Mr Rosen can demonstrate how such an offer can allow the company a realistic chance of attaining profitability in the next year.

Any other ideas out there?

[theTransporter]

If you go one page in you'll see I suggested the exact same thing https://stockhouse.com/companies/bullboard/c.tgif/1933-industries-inc?postid=34591018   totally agree with you. 

[Lire02]

Hi Transporter, Very happy to have some company. So far , I have not had any co-operation from the company in this matter. I think it would be in the best interests of debenture holders to ask the company to assist in setting up a facility to allow some two way discussion of possible solutions. The last extension was basically shoved down out throughts. I would not like to see that same thing

[Lire02]

Hi Again , Transporter Just read your submission again, and agree with pretty much everything you suggest. I would also ask that all accrued interest to date be paid in full this Sept, cash or 5 cent shares as an act of good faith  , so to speak, before I would agree to any extension. My apologies for not noting your prior suggestions in my submission. Very careless of me.