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Gold/Mining/Energy : Orbite Aluminae
EORBF 0.000001000-99.7%May 27 12:27 PM EST
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To: Rocket Red who wrote (6535)3/15/2019 2:31:41 AM
From: sense   of 6560
 
So, what I'm seeing here is that the government is making payments to them to hold up their end of the financing agreements they signed... and the company puts those payments, already totaling something over $8 million now, into an escrow account... and then the company borrows money in the form of convertible debentures to fund operations, while using the escrow accounts as collateral ?

So, the company already has all the money that's needed to solve the problems they've encountered and get them through the delays and back on track... but the shareholders won't be going along for the ride, even if that all works out, only because the financing "tricks" using convertible notes will wipe them out anyway ?

I've seen some pretty detestable uses of convertibles in my time... but this one seems pretty outrageous.
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