Posted On: 08/31/2016 11:32:05 AM
Post# of 96881
Does anyone know the answer to this?
This issue has been gnawing at me: In the July 22nd shareholder letter, Jeff Foley wrote the following about the R/S:
“This move is significant, partially because we have now reduced our convertible debt by over a million dollars…”.
How exactly did the R/S reduce NTEK’s convertible debt by more than $1 million? Does anyone know how this works? I thought the R/S isn’t supposed to change the value of your slice of the NTEK pie, so how does it make more than $1 million in debt disappear?
This issue has been gnawing at me: In the July 22nd shareholder letter, Jeff Foley wrote the following about the R/S:
“This move is significant, partially because we have now reduced our convertible debt by over a million dollars…”.
How exactly did the R/S reduce NTEK’s convertible debt by more than $1 million? Does anyone know how this works? I thought the R/S isn’t supposed to change the value of your slice of the NTEK pie, so how does it make more than $1 million in debt disappear?
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