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Posted On: 12/07/2022 3:05:33 PM
Post# of 154776
Lost amid the very interesting lectures on Leron and its indications today was one thing in the SEC filing that could be read optimistically.
My question is this: why do Cyrus and Co. think it will be easier to pay $5 million at the end of January rather than now? Where do they think money will be coming from at that time? Do they think the share price will be higher, and if so, why?
Seems to me this might be an interesting date to keep an eye on. Or is there a gloomier way to read it?
Quote:
The Second Amendment provides for the extension of the obligation of the Indemnitors to indemnify the Surety from November 15, 2022 to January 31, 2023; provided that the Company will relieve the Indemnitors of a minimum of $1,500,000 of cash collateral currently pledged by the Indemnitors in support of the Surety Bond by January 5, 2023, with the balance of the cash collateral ($5,000,000) to be relieved by January 31, 2023
My question is this: why do Cyrus and Co. think it will be easier to pay $5 million at the end of January rather than now? Where do they think money will be coming from at that time? Do they think the share price will be higher, and if so, why?
Seems to me this might be an interesting date to keep an eye on. Or is there a gloomier way to read it?
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