Tangelo Games Corp. IPRSF

MD&A available on sedar

[mancer7]

https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00031491

[Champ87]

Thanks Mancer...not really the numbers I was hoping for. Thought Q1 would start showing some growth. The transition to Unity is taking longer than expected and is really affecting the release of new games. A lot of reference to a possible acquisition/transaction again..must be a complicated deal to take that long to close.

[nervous64]

Weak, weak numbers. The serious people on this board have given the Company plenty of time to turn this around with no immediate help in site. They don't communicate or come through on their stated goals. And because it is taking so long to make this deal, I am not getting a warm and fuzzy feeling. I think we are all going to get screwed. Just my opinion, but I completed multi million dollar

[SPCguy18]

I remember seeing earlier this year that the lenders had wanted 90% of the proceeds for any particular takeout transaction, if that isn't a squeeze play I don't know what is. Almost hope that they somehow push through and finally start to dig this themselves out, 9 mil a quarter will not suffice.

[TooTall00]

I agree, I don't see this having a positive outcome for us although I hope it does and having hope in the market is always a bad thing! Best of luck to all as we are going to need it.

[nervous64]

Hey SPC, I think it was 10% of proceeds or a fixed payment, whichever was more. Just my recollection without digging deeper.

[Lendlfan]

Here is the actual statement from their MD&A. "In January 2017, the Company entered into another amending agreement with its lenders whereby a principal repayment of the greater of US$10.0 million and 90% of proceeds of any equity or M&A transaction completed was required by March 31, 2017." So my question is, can anyone decipher this properly for the rest of us? 90% of

[lscfa]

The 90% of any equity or M&A transaction would be limited to the debt outstanding as it is for repayments of principal......