There is debt as well.
Post# of 153903
(Total Views: 514)
Posted On: 03/28/2023 8:09:37 PM
Re: Hyperbolic #133679
There is debt as well.
We probably still owe $35 million or more on Fife's convertible notes that come due in April and another $35 million to Samsung and its suppliers. Plus there is another $197 million in potential commitments to Samsung through the end of 2025 that likely won't need to be paid in full as manufacturing has ceased, but a portion could still be a liability.
Thankfully both Fife and Samsung have seemed amicable in their willingness to not hold the company to the terms of the debt, and Fife makes more money anyway every time his terms are amended, but the debt is a reality and will have to be reckoned with eventually, either with cash or shares.
Cyrus and the team have been doing a good job trying to make chicken salad out of the financial chicken shit Nader handed them so we'll see where it goes from here. My takeaway from the SA article is that an outsider looking at the company sees debt first and foremost, with an eventual need for more authorized shares whether with an increase in the authorized amount or though a reverse split.
A partnership or big payday from Amarex could obviously go a long way toward putting the company on firm financial footing but the likelihood of either of those is in the eye of the beholder at this point. Risk vs reward is an assessment each investor has to make for themselves.
We probably still owe $35 million or more on Fife's convertible notes that come due in April and another $35 million to Samsung and its suppliers. Plus there is another $197 million in potential commitments to Samsung through the end of 2025 that likely won't need to be paid in full as manufacturing has ceased, but a portion could still be a liability.
Thankfully both Fife and Samsung have seemed amicable in their willingness to not hold the company to the terms of the debt, and Fife makes more money anyway every time his terms are amended, but the debt is a reality and will have to be reckoned with eventually, either with cash or shares.
Cyrus and the team have been doing a good job trying to make chicken salad out of the financial chicken shit Nader handed them so we'll see where it goes from here. My takeaway from the SA article is that an outsider looking at the company sees debt first and foremost, with an eventual need for more authorized shares whether with an increase in the authorized amount or though a reverse split.
A partnership or big payday from Amarex could obviously go a long way toward putting the company on firm financial footing but the likelihood of either of those is in the eye of the beholder at this point. Risk vs reward is an assessment each investor has to make for themselves.
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