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Posted On: 06/03/2017 1:54:22 PM
Post# of 1514
Gurba himself explains it inn his radio interview of 3/6/17. In the 18 min show, he explains that BTGI has approximately 20 mil in assets, and 40 mill in debt. In phase one of the debt reduction scenario, 10.8 mil will be taken off the books thru the sale of the ordinance division. That has occcured in May as scheduled.
The next phase is the one that has not been released for public view yet. The remaining debt holders of record (approximately 12 mil dollars worth will be offered 2 classes of preferred shares- A & B. This will remove the toxic debt and the remaining debt on the books will be in the neighborhood of 18 million dollars.
The remaining debt will be typical stable Bank debt at a set interest rate - no conversion to shares. What this means is the companies finances are Under Control. When this is announced, it will be huge. The past weeks news is Pale in Comparison. Go to the following radio interview and see for yourself.
upticknewswire.com/ceo-stephen-gurba-gives-update-bulova-technologys-subsidiary-markets/
The next phase is the one that has not been released for public view yet. The remaining debt holders of record (approximately 12 mil dollars worth will be offered 2 classes of preferred shares- A & B. This will remove the toxic debt and the remaining debt on the books will be in the neighborhood of 18 million dollars.
The remaining debt will be typical stable Bank debt at a set interest rate - no conversion to shares. What this means is the companies finances are Under Control. When this is announced, it will be huge. The past weeks news is Pale in Comparison. Go to the following radio interview and see for yourself.
upticknewswire.com/ceo-stephen-gurba-gives-update-bulova-technologys-subsidiary-markets/
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