What is it worth?, page-13

Thanks - where is this number from?


My breakdown is as follows:

~4.5m euro ($6.75m) of earnout, about half already paid in Jan, rest due in June16

~$2.9m euro ($4.4m) of loan due to track vendors in June16

~$2.0m euro ($3.5m) loan to track vendors due in October16


But I'm missing clarity around the details of the master facility - the 3 year loan with Greensill. Total value is ~$6m so i assume another ~$2m due this year.


Which gets us to around $17m due this year (worryingly, mostly sooner rather than later this year)


Not trying to bring this down by the way, just good to get everything in the open and clear. There has been a lot of meaningless rhetoric from the usual parties on here, it's nice to have details.

I note the auditors in the report note the liabilities due, but indicate confidence the company has sufficient backing from lenders and equity providers that they could reneg terms or raise capital if need be.

Worst case scenario IMO is a small cap raising, most likely result though is term renegotiation.