Think Research Corporation V.THNK

Never ending drip

[Possibleidiot01]

SIGH.
Beedie Capital advancing money .
At least they announced this one during the business week.
Highly unlikely it's due to us, dt_core

[dt_core]

Late Friday unfavourable news releass always signals that management is trying to sneak one past investors. All it ever ends up doing is shake investor confidence so yes I'm happy that they announced mid-week, though I didn't see an official press release in my inbox this morning. I was quite certain that they needed to draw the entire $5M they prenegotiated with Beedie after a weak Q3

[dt_core]

Some recent conference call comments by management: Q2 2023 (call was Aug 29th): "And one thing about our pipeline which we’ll say is that it is the largest pipeline in the history of the Company. But very importantly, we have more significant opportunities that are further down the pipeline than we’ve ever had in the history of the Company. And so that’s really quite important because, as

[Possibleidiot01]

How much of the $28 or 29 million do they owe to BNS? One of the questions , I've been trying to get an answer ; check your messages.

[dt_core]

It's $24.4M with Scotia as of Q3. Management said they need to reduce principal by $500K each quarter going forward. So as of Q3 that was 3.7x leverage on estimated 2024 Adj. EBITDA. Given its senior debt I suspect that Scotia wants them to be closer to 2.5x net leverage which, after the latest Beedie draw, would be 2.4x at present.