Intercept Energy Services Inc IESCF

New Financing Hurts existing shareholders

[lscfa]

GGX already pays a 5% gross revenue royalty to patent holder. Now it is going to issue a 12% debenture which also pays a 3% gross revenue royalty! Why not get more credit brom bank at 5%?

[Stooge]

GGX pays a royalty of 10% to former shareholders of Intercept Rentals. GGX also paid $1.3 million in excess of the identifiable assets it acquired. As a result of GGX's poor financial position our auditor has raised the question of the company's ability to continue. Their ability to obtain funds is very limited. Without qualifying our opinion, we draw attention to Note 1 of these