Boring K3VMC. NOTHING can be ruled out. NOTHING. It’s not in existence currently though. Keep the sermons coming. I’m thinking of taking up religion again, becoming a follower, singing in a choir, following the flock. Have a lovely heartwarming day my friend.
KV3MC. At what point have I said WRES have a CLN ? I haven't ever. Stop making stuff up. Its ok for you to speculate on things that might happen, dare I say production, dividends, output, production costs etc etc. Numbers that the company has never claimed. Tick tock, 1 day closer to something
What do you not understand about my answer ? I’ll put it there again Yes K3VMC. Thats correct, it must be reported. It could be yet to happen though. PIK leaves the door open for options. Maybe research a Toggle loan as PIK. PIK just gives the investor more options thats all. As I said, no one here is privvy to the agreement, so nothing can be ruled out. If this production doesn't get going and producing cash, some kind of action will need to be taken . Thats all I'm saying.
So I agree a CLN would be notifiable when/if it came into existence. I agree that there isn’t one now. I don’t agree that that means there will not be one in future.
Yes K3VMC. Thats correct, it must be reported. It could be yet to happen though. PIK leaves the door open for options. Maybe research a Toggle loan as PIK. PIK just gives the investor more options thats all. As I said, no one here is privvy to the agreement, so nothing can be ruled out. If this production doesn't get going and producing cash, some kind of action will need to be taken . Thats all I'm saying
You cannot say that Langtro. Neither you nor I or anyone else on this board has been privvy the the full and complete contract. So whilst I cannot state it as 100% fact, you cannot state it as 100% lie. It is however a possibility and thats a fact. There is no reason to use PIK, but they did. There will be a reason for that
Needs to be paid sometime K3VMC. Cash or kind. PIK notes are just a hybrid debt instrument. Like a loan, but you use them if you don’t believe the business will have the short term liquidity to pay the interest payments. On the flip side you also use them to acquire ‘free equity’ by wrapping up accrued interest into a higher debt balance (they usually have a conversion attached so you can convert the loan into equity in the business). The question is what is the conversion ratio applicable here ? 5:1 maybe ?
KV3 and Mogwhy. You are bordering on scammers in your desperation to avoid the truth. Desperate. Learn to read plain English. Have a lovely evening. It might be tomorrow when the next placing occurs, though in all fairness it will probably follow some expected news so maybe a week or 2 off yet
KV3MC. I don't care for your opinion. Its not point scoring, its reporting fact. They have failed to meet many things. That is historical fact. Whether the company fails in totality is yet to be seen. You can speculate, in the way that you do. If it doesn't get its finger out and start producing income greater than its liabilities, it is a certainty.
Why ? Can you not read ? Its in the thread You will no doubt say that it will not be paid until 2020 or some such rubbish. Its what it says in the company presentation. I suppose its acceptable to default on the arrangement again. Blackrock have already extended the deadline by 6 months to start paying back some cash. Debt doesn't go away, its growing and growing
K3VMC. So WRES has a different definition of fail ? You crack me up. It is you that are being silly. It has failed to meet your expectations, it has failed to meet its production targets, it has failed to meet its timetable. What part of fail do you not understand ?