The had approval to do an RS in August 2016. This
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Posted On: 04/14/2017 6:40:11 PM
Re: BenArrowVlogs #286
The had approval to do an RS in August 2016. This is valid for 1 year from the approval which puts it to August 2017. That has not changed. they have up to Aug 2017 to do the RS.
They 8kd and in the 10k filing that an RS will be done. at around April 04 2017.
It is NOT being pushed back; they have a year to do it and the annouced it that it will be done April at some point. Now its a matter of finalizing it.
They knew they had to RS because the current debt they dealt with was only the senior debt which maxed out the AS/OS.These convertibles is another story. By selling more assets and reducing the ss by RS they free up shares for further conversions/dilution. That isn't to say this is a bad thing. It's part of restructuring. The company isn't hiding anything. IT's just part of having to clean things up. They are relying on 3 areas. Selling assets, conversions and alternate non toxic financing to handle the remaining 28mil in debt.
They 8kd and in the 10k filing that an RS will be done. at around April 04 2017.
It is NOT being pushed back; they have a year to do it and the annouced it that it will be done April at some point. Now its a matter of finalizing it.
They knew they had to RS because the current debt they dealt with was only the senior debt which maxed out the AS/OS.These convertibles is another story. By selling more assets and reducing the ss by RS they free up shares for further conversions/dilution. That isn't to say this is a bad thing. It's part of restructuring. The company isn't hiding anything. IT's just part of having to clean things up. They are relying on 3 areas. Selling assets, conversions and alternate non toxic financing to handle the remaining 28mil in debt.
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