OTCPK:TGMGF - Post by User
Comment by
goldpolkaon Apr 10, 2023 6:39pm
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Post# 35387541
RE:RE:RE:Are they desparate for cash??
RE:RE:RE:Are they desparate for cash??I think this is why only $70,000 was "raised". Provides some cash until merger is completed, when they can tell the story and (hopefully) do a raise on the consolidated play. Effectively, the if the lender actually excercises the warrants (likely), it's like a very small PP at $.115 (i.e. amount of loan not paid back). If they don't excercise the warrant, then a loan at 10% is pretty cheap money with where Prime is at right now ... the interest is irrelevant in terms of $$.
Selling $70,000 of equity now (via the warrants) is a good thing in my mind (assuming they need a little cushion for operations)... glad they didn't raise more at these prices that's for sure !
GLTA