Mission Ready Solutions Inc V.MRS.H

Debt settlement with shares

[Ciao]

Creditor has accepted shares at .35 CDN to settle $1M US debt.

[Ciao]

https://mrscorp.com/mission-ready-announces-debt-settlement/

[freedom45]

Yes, that explains the sudden "unexplained" price drop yesterday. Now that that is out of the way we can carry on. Buck has done an excellent job of cleaning up the books which bodes well for future growth quickly.

[Gringotts]

It appears this debt payment is a settlement for a court case that was processed in NY. The defendent was Unifure and, of course,  the previous management. Schwartz hounts this company even today. I am not a fan of dilution or debt but this issue had to be taken care of. Buck is still cleaning up the many 'pee spots' left by the previous management.  Product Source Group, LLC

[Ciao]

Thanks for the info. Any other skeletons from previous management you are aware of? With about 200M shares o/s, 3M shares is minimal wrt dilution and it's better issuing shares than using cash.

[Ciao]

I would tend to agree.  When shares are .45 and you are issuing shares at a discount, the market doesn't look at it too favourably and drags the share price to that issuance level of .35.

[FordVictoria]

Worse is that these shares will not be hold as investment, as soon as the peron or persons have it it will be dumped into the market to get any cash possible. 

[Gringotts]

Perhaps...The company after all, took payment in stock NOT cash. That is telling. It speaks to MRS positive future. Also a million or two shares, although significant, means little in the scheme of things. They can be quickly absorbed when the bigger contracts are announced and a flood of buyers purchase MRS stock. Further, this litigation issue is no longer hanging over the company - I wonder how