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Bullboard - Stock Discussion Forum KGIC Inc LGLTF

"KGIC Inc is an educational organization based in Canada. The company owns and operates private English as a second language school, career colleges and community colleges in Toronto, Vancouver, and Victoria."

GREY:LGLTF - Post Discussion

KGIC Inc > $8 million Raised
View:
Post by paljoey on Jul 10, 2015 7:10am

$8 million Raised

To raise $8 million in such a short time period is a strong endorsement of the quality of Loyalists business fundamentals.

Clearly, it is  remarkable achievement that few thought would be possible.
New management now have plenty of working capital needed to completely redress operational ineffucuencies.

Bmo will back away from its aggressive stance on loans outstanding,allowing new management time to offload non core assets, with proceeds used to pay off BMO.

In the past, this stock has shown great response to orchestrated advances in share price.

It wont take them long to hit the 25 cent level..
Comment by britishcinnamon on Jul 10, 2015 9:07am
Actually, the company raised $3.1M, which means that, inclusive of the current amount raised, they still need an additional $4.9M to complete the $8M private placement. The immediate benefit would be that LOY avoids a default on debt. The bad news is the future dilution. In terms of timeline, Q2E comes out at the end of August, the private placement should close on or before September 10th. If ...more  
Comment by InternalAudit68 on Jul 10, 2015 9:18am
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Comment by InternalAudit68 on Jul 10, 2015 9:37am
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Comment by britishcinnamon on Jul 10, 2015 9:55am
True for frontline employees maybe. For the corporate members and board members who add no value to the operations, I would rather see a layoff. That is perhaps the one thing that most longs on this bb and the LOY haters can agree on. At least Ryu is only functioning as a part-time consultant at this point for the current CEO and not as a LOY board member.  I know that Ryu and 2 other board ...more  
Comment by InternalAudit68 on Jul 10, 2015 10:06am
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Comment by TheRock07 on Jul 10, 2015 10:32am
Back up your truck.  To have raised $8 million so quickly tells you that these inside investors are going to make a ton of money. And, so will we. Watch for even better news  See you at 25 cents//
Comment by InternalAudit68 on Jul 10, 2015 10:34am
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Comment by TruthLogic on Jul 10, 2015 10:48am
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