Therma Bright Inc V.THRM

Therma Bright 145,000 shares for debt @ 45 cents per share

[wanttoretireearly]

Great new yesterday that know no one even mentioned 

2021-03-11 19:02 ET - Shares for Debt

 

The TSX Venture Exchange has accepted for filing the company's proposal to issue 145,000 common shares at a deemed value of 45 cents per share to settle outstanding debt for $62,500.

 

Number of creditors:  three creditors

[nrv090909]

I feel a very big therma rally today. 

[Niranjan]

If I am understanding correctly, this means creditors are accepting $0.45/share even though current market price is below $0.45/share. in other words current SP is approximately at a 25% discount compaired what has offerred to creditors. Any other thoughts ??? TIA  

[Jtsobie17]

It's interesting because most times when a company settles debt via shares, it's usually at a discount and with options, even if it's a relatively small amount. Granted, we don't know the holding time or anything either, but for such a minimal amount of shares, its negligible. The fact that they settled on a higher price shows the confidence in the future SP, IMO. Why would they

[Smokey1958]

This is the paragraph from the January 25, 2021 NR which relates to yours and others comments on this. The hold period will take these to the end of May. On the day of the NR the high, low and close for the sp were $.52, $.39 and $.415. It was also around that date that the sp was trending in the $.50 to $.60 range. Like has been the case throughout the last 8 months the sp was quite volatile

[boubouna]

Smokey, your information is always clear and concise...maybe you should 'write' for Therma...just sayin'....