NYX GAMING GROUP LTD 11 PCT DEBS V.NYX.DB

News

[gunzod]

NYX gaming group announces extension to maturity date and partial conversion of convertible debentures.  as per SH realtime.








I must learn how to post the whole release.

[willis888]

NYX Gaming Group Announces Extension to Maturity Date and Partial Conversion of Convertible Debentures NYX Gaming Group Announces Extension to Maturity Date and Partial Conversion of Convertible Debentures Canada NewsWire LAS VEGAS, Nov. 17, 2016 LAS VEGAS, Nov. 17, 2016 /CNW/ - NYX Gaming Group Limited ("NYX" or the "Company") (TSX-V: NYX) announces today that it has entered

[GobbleGobble]

I actually really like this move. In plain english for those who are not as financial savvy as others I hope this helps you translate this news release: A holder(s) that has $1,000,000 of the $10,000,000 (or 10% of this debt) has agreed to swap debt for share at a price of $1.39 per share. What does this mean? It reduces the outstanding debt that NYX has to pay back and also reduces their

[stocksnbonds]

I don't see it the same way.  WHy not extend earlier when share price was much higher ? We're diluting the shares outstanding much more.  This should have been done at levels above $2.  sb

[wingnut1954]

It was set to mature today so maybe there was no choice earlier. 

[stocksnbonds]

Point well taken.  Unfortunate.  sb

[ForesstGump]

This post has been removed in accordance with Community Policy

[stocksnbonds]

You obviously "think" incorrectly.  I'm quite the realist. Have purchased a few times and have a fairly low cost basis.  Others though have a much higher one.  Namely funds who purchased at the IPO and various PPs. Everyone of those investors lost.  I was OK with the CHW and CRYP purchases. I liked the OB purchase. Those were transformative.  I'm not OK

[ForesstGump]

This post has been removed in accordance with Community Policy

[StockMagician]

I read the new release in a different way.   It looks like the holders of 9 of the 10 million think they are better off taking the 6% extension than taking shares in NYX at 1.39.    That screams that it is going lower to me, so I sold out at the open.   I still like NYX and will hopefully buy back in at a tax loss bottom turn sometime in the next 4 weeks. 

[rankininlet]

I vote with it is a positive that debt holder went to equity. Fact remaining debt holders stayed in debt vehicle not surprising as they opted for debt vehicle in the first place notwithstanding that it has a conversion option. Not that one million is a big deal hear either way.