This sideshow benefited small group of individuals & that has always been the end game.
Documentation is presently being finalized to increase the loan facility from $15M to $25M after finalizing a payment of $8.3M to Coris.
In order to cover the $25M loan facility, a full conversion of securities is being offered should shareholders agree. If agreeing to that deal, the company will go into foreclosure & sell off with any reported proceeds going to Oceanic & BCM.
It takes a certain type to treat others like you don’t give a F; but business is business & no one is in the business of protecting shareholders. But we knew that in 2020 didn’t we?
RIP BSR
Ann: BASSARI CORPORATE AND OPERATIONAL UPDATE, page-18
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