Everything is fine, we are only issuing BMCG with 10 mil shares valued at $1.27mil to provide us with a line of credit, That may not need to draw down on the loan, I am gobsmacked that the ravers think everything is going well when the company has to pay a company this much in shares just to provide a highly conditional line of credit, With one of the major conditions being liquidity.
When will you guys wake up and start asking questions from your board, "what liquidity is required to enforce this deal"?
All I can say it screams desperation, I really hope WKT can secure one of these term sheets or things are going to get very messy.
Everything is fine, we are only issuing BMCG with 10 mil shares...
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