Post by
babymines on Jan 08, 2021 10:04am
Observation
Don't listen to me, make your own decisions. When creative financing is used ask yourself who it benefits the most. Cumo converts a know liability (ie interest payments) to reduce the accured interest that Cumo was unable to pay. Cumo converts the debentures into stock that does not accrue interest and can loose value. The old debentures slate is wiped clean, the new debentures with a higher interest creates a new liablity and a new money stream. What has changed that Cumo will be able the higher interest nothing? Who benifits the most mangement! They can start paying the salaries and consulting fees. Just look at the history from the Cumo Financials.
Comment by
JackCross on Jan 08, 2021 12:26pm
What sparked my interest was the debentures offering $5/oz silver purchases from the mine. That's a 400% bump on the current spot rate.