Agoracom: Small Cap Investment - Resverlogix Corp. - Re: Received a response....Third Eye Loan Balance-Updated

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Re: Received a response....Third Eye Loan Balance-Updated

in response to

Re: Received a response....Third Eye Loan Balance

KOO-KOO2

posted on Jul 16, 2019 06:08AM

This is what I got back from RVX IR on this topic.

My Query to RVX IR:

"Hello again. If you would be so kind and please clarify the following query about the outstanding balance of the $30M US 3rd Eye Loan.

1) Financial of Jan 31, 2019, paid out $15,473, leaving a balance of $14,537 US.

2) Short Form Prospectus page 8 states that as of Jan 31, 2019, balance $14,172 US.

3) On the same page of Prospectus Note, 5 indicates a balance of $14,536,692 as of April 30, 2019.

Note: Whichever 3rd Eye balance is correct from the above, it appears that the PP of April 1, 2019, in the amount of $15.1 Mil ( $11.3 US) is not taken into consideration assuming that 50% of the PP would have been used to pay down the Term Loan with 3rd Eye to reduce the balance outstanding as of April 30, 2019 from $14.536.692 as stated on page 8 of the the prospectus."

____________

RVX IR Response:

"Both figures in your points 2 and 3 below are correct. The figure in note 5 would account for interest plus any fees since January.

Closing of the PP happened subsequent to the filing of the final prospectus. Updated financial statements will be provided as part of the year end filings which are expected to be filed prior to July month end."

In conclusion, once the short form prospectus "public offering" and the Q4 "PP" are taken into account, we may end up with a balance owing to 3rd Eye of $3 Mil US after all.

____________

Koo

4 Recommendations

Re: Received a response....Third Eye Loan Balance-Updated

rocketman2

Jul 16, 2019 08:37AM