1. IOU are waiting for the IDSB audited statutory accounts to be completed. This is what’s holding things up. The second tranche payment is due May 30th I believe, so they should have this info soon. Once they have this info, they will know exactly how much the 2nd tranche will cost
2. Upon knowing how much the second tranche will cost, there will be a small CR. It’s looking like 2nd tranche will be $6mil-$7mil. In the qtrly they say they are holding a $3mil cash deposit for this second tranche. So perhaps a $5mil CR to instos to help find the remainder of the second tranche?
3. Upon IOU paying the 2nd tranche and therefore owning 42% of the company, they will then quickly get a credit facility, with IDSB dividends and IOU’s 42% share of IDSB profits being used to pay off that facility.
IMO
GLTAH
IOU Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
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