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Bullboard - Stock Discussion Forum Siyata Mobile Inc SYTA

Alternate Symbol(s):  SYTAW

Technology Communication Equipment
Siyata Mobile Inc is engaged in the sale of vehicle mounted, cellular-based communications platforms over advanced 4G mobile networks. The company offers rugged phones for industrial users and signal boosters for homes, buildings, and fleets with poor cell coverage. It acts as a developer and provider of cellular communications systems for enterprise customers, specializing in connected vehicle... see more

NDAQ:SYTA - Post Discussion

Siyata Mobile Inc > Hi everyone
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Post by NineLives on Dec 02, 2021 9:27pm

Hi everyone

Looking this company over. One fact is puzzling is the $6 million investment by Lind, convertible into shares at $10 but no interest payments etc; Doesn't make sense to me, why lend with those conditions which were about $6 more than the shares were trading at when announced ??? Any comments ?
Thanks in advance.
Comment by Greygoat420 on Dec 06, 2021 9:53am
Hi NineLives, The devil is in the details.  While the "loan" caries an interest rate of 0%, Siyata has to pay back $7.2M to Lind.  In other words Lind invested $6M and gets $7.2M back after 24 months, effectively this is a 20% interest rate over the term of the loan. I am guessing that there may be some tax advantage for Lind to loan the funds to Siyata this way?
Comment by NineLives on Dec 06, 2021 11:18am
Hey thanks appreciate the reply. Well I bought so hope some decent contracts turn up !!
Siyata Mobile Inc
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