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19:16
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Originally posted by sharks37
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Hi JohnnyF, to clarify, I didn't say they made the earn-out payment from the additional borrowings. I stated that the pre-existing cash balance of $4.4M (as of April 30) would have been used to make the earn-out payment. This would leave $0.6M cash from that April 30 balance of $4.4M, plus whatever FCF was generated between April 30 and June 30.
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Sharks, from my reading of the company documents I cannot see a single reason or instance where the lender would convert at 30% premium, can you? It seems to say "you can convert at a 10% discount or a 30% premium whichever you prefer". If that is the case then why on earth is 30% premium option even there in the first place?
(20min delay)