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SHFL entertainment, Inc. Message Board

  • hclasvegas hclasvegas Mar 20, 2005 1:27 PM Flag

    VNX capital structure,doing deals.

    Doing deals in the low price space is what I did for many years so let me share a few thoughts with you. When a small cap company needs cash,which is often,management sometimes gives away what they REALLY think vs what they say. VNX needed say 3-4 million to get them past the expected material milestones sited by Cranberry. VNX and its PR firm don't take or return phone calls,so lets use our new friend Mr.Cranberry as our source of info.,since I do believe he is sincere. They raised the 4 million @ 10 % with a conversion price of 1.65 for 1/2 the total raised. Clearly, I'm certain Mr. Cranberry would agree,that 4 mil. is way more then enough to get them past the material milestone point which is 120 days or so away. AFTER,you reach the milestones the stock should respond by moving higher,then,you do round two,with a lower interest rate and a higher conversion price which benefits your shareholders,aka,lower debt service less dilution from the convert. What did VNX do? They raised way more then needed,they sold stock on the,story,the dream,rather then wait for the hoped for milestones to be reached,to do round two @ more favorable terms to the company. Therefore,the VNX management team has told us, we got story,but he ain't got much game,imo. IF,IF,they have a real competitive product,they are stupid,why give away so much company at such UNfavorable terms now,when you can wait 120 days ,reach your milestones,and do round two with the stock @ 2.50 plus? The management team @ VNX has spoken,they didn't need to return my calls.

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