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And the regurgitation of irrelevant old news continues.Red 5...

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PL24682468z

7,909 Posts.

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17/06/19

14:51

Post #: 39095451
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Originally posted by Jimjamzzz: ↑

Mate when you have long term holders like Haggis who has for years now been a glass half full believer looking at the raw numbers of a signed deal and saying "hey theirs a pretty big issue here" it speaks volumes.

Let me just reiterate FACTS for you.

"Your current debt that needs to be repaid is $1.6 million by April next year or you default if the Convertible loan notes convert.

Its looking like your about to convert the following $3,540,000 from Obsidian which incurs a 15% interest (like the initial 1.6 million) so when potentially converts that will bring your loan total to $5,671,000.

God luck paying off a potential $5,671,000 debt in the next 12-16 months when you're currently losing around $1.8 million dollars a quarter."

The company itself is quoted recently as saying "they won't reach break even until Q3 FY2020" so by it is own admission it won't have the capital or revenue to cover the huge debt it's currently incurring.

"JJ stating they will 100% go bankrupt is pure down ramping designed to get people to sell"

I'm just reiterating the conclusion of what anyone with the ability to read a terms sheet including people like Haggis have come to understand.

It's O.K to have a different opinion but provide realistic positions instead of constantly playing the man.

Where's the 5-10 million needed to cover all these CLN going to come from?

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And the regurgitation of irrelevant old news continues.

Red 5 summed up the goings on of ‘The LT 4 Non Holders’ here very accurately.

SYT Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
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