Post by
RoyMax123 on Dec 06, 2022 9:47am
I was right about SGE
They just wanted us to go belly up.
Comment by
ark88 on Dec 06, 2022 10:13am
That's one possibility. But why would they ask us to the table after 2 years of uncooperation? Why would they then sign a MOU?
Comment by
SlyFox1 on Dec 06, 2022 10:17am
I have a lot of questions to say the least
Comment by
RoyMax123 on Dec 06, 2022 10:20am
To make SNV spend their last dime on Travel / Reserve reports / etc Once they are out of money you offer them just one alternative, to clear their debt in exchange of the 25%
Comment by
ark88 on Dec 06, 2022 10:29am
Yes I agree, that's one possibility. I ask, why make it so complicated? Just pay us to go away. If the assets are that great, 20 million is a drop in the barrel and so much easier and cleaner. IMO, thats still a possibility. Maybe management has been rebuffing offers which they consider too low. Maybe now managment has no choice to accept a "low" offer.
Comment by
SlyFox1 on Dec 06, 2022 10:30am
Yep that is now the only question. How much
Comment by
RoyMax123 on Dec 06, 2022 10:32am
Yes and the low offer is probably just to clear the debt and the associated fees
Comment by
RoyMax123 on Dec 06, 2022 10:37am
and would not surprise me if they also have to produce the reserrve reports as part of it
Comment by
SlyFox1 on Dec 06, 2022 10:37am
Roy, agree with that. Bottom of the barrel offer is debt cancelation. Question is can they get a couple million extra to go away easily?
Comment by
RoyMax123 on Dec 06, 2022 10:44am
Considering how crooked SGE is I would be surprised, but who know maybe they will receive some pocket change.
Comment by
ark88 on Dec 06, 2022 10:46am
There's a real riddle here. Look at the 26 mil warrants that were repriced to $0.07 and expiring in 3.5 weeks. That $1.8 million for the treasury. If I was SGE wanting to bleed SNV, why would I even remotely give SNV a chance to get those warrants into play? It makes no sense whatsoever.
Comment by
ark88 on Dec 06, 2022 10:48am
For the newbies, yes todays action is what is called dumping.
Comment by
ark88 on Dec 06, 2022 10:52am
and a lot if not most of the selling is Tax Loss Selling and IF there's a heartbeat left in SNV, those tax loss seller will be buying in early January to lock in the artificial loss. I'm going to try to pick some up down here.
Comment by
SlyFox1 on Dec 06, 2022 10:49am
And why only extend the warrants to may? why not have extended them till december 2023. Feel like there is more to the story. With the first page of this new chapter being how much will SGE pay for us to go away
Comment by
RoyMax123 on Dec 06, 2022 10:23am
BTW As long as they will try to do business in those crooked country they will be screwed every single time.