Frontera Share Discussion Threads

[dson1] 19/10/2018 18:22

You are honestly thick.

YA forward sold shares, so at the point had already had the $265k for the month of August. So at that point in time, YA believed that FRR were in default for the remaining amount left, after 2 months worth of payments. 1 cash $265k and the forward sold shares - announced in the RNS.

$64,900 x 5 months (Nov, Dec, Jan, Feb, Mar) = $324,500
$149,600 x 3 months (Apr, May, Jun) = $448,800
Then lump sum of $2,141,700 in July.
Total of above = $2,915,000

Say no more. They wouldn't be paying $2,141,700 on 1st July, as well as $149,600 on 1st July. Try to use what little brain you have.

The sums are so obvious now, I can't Fisher Price it for you anymore.

[loglorry1] 19/10/2018 18:12

@dson

-----+
then US $ 149,600 per month up until 1 July 2019, and then will make a lump sum redemption payment of US $ 2,141,700 on 1 July 2019 to redeem all remaining
-------

Where's your $149,600 on 1st July ?


Also it's ridiculous to assume they'd put them in default for less than what was owed because they'd forward sold shares for cash and didn't get the shares but took that cash off what was owed anyway.

That's just pure silly.

[loglorry1] 19/10/2018 18:07

They said $2.65m as they wanted circa 175m shares and as FRr didn’t wanna give them shares the $2.65m increased to over $3m. Simple and not moronic. Have a good weekend.

------

That doesn't fit with what was owed at 30/6 on the balance sheet.

Nevermind have a good weekend.

[dson1] 19/10/2018 18:06

Yes, they owed $2.915m at the point BEFORE YA pre-sold the shares - which was the issue that FRR weren't happy with.

And after the new settlement today, they owe.... $2.915m:

$64,900 x 5 months (Nov, Dec, Jan, Feb, Mar) = $324,500
$149,600 x 3 months (Apr, May, Jun) = $448,800
Then lump sum of $2,141,700 in July.
Total of above = $2,915,000

Just on much better terms to FRR, with them not having to pay hardly anything until April.

Bell.

[loglorry1] 19/10/2018 18:05

@dson1 but this argument is ludicrous. You are saying they presold $265k of shares and when they didn't get the shares to cover they assumed that they would get them so write that amount off what was owed?

That's truly daft beyond belief. If this was what happened they'd have remained naked short the 265k worth of shares and come settlement they'd have to buy them back for 265k or thereabouts. How then would they just take that off what's owed at the time of the default notice.

[tickboo] 19/10/2018 17:59

They said $2.65m as they wanted circa 175m shares and as FRr didn't wanna give them shares the $2.65m increased to over $3m. Simple and not moronic. Have a good weekend.

[loglorry1] 19/10/2018 17:58

They owed less than 3m at the interim stage and made a cash payment after and now you say it's over 3m but hasn't been increased in the settlement.

I do wonder how stupid some people are.

[loglorry1] 19/10/2018 17:55

@tickboo I can't help you. You are just plain wrong.

You say YA didn't get shares so put them in default for 2.65m and you say that this is a reduced amount because it is reduced by the shares they didn't get!

That's truly morinic.

[thefozzer] 19/10/2018 17:51

haha busted Loggy!!!

On the move today so can't comment too much but bloody brilliant news today.

[tickboo] 19/10/2018 17:33

From Sept 17 RNS -On 28 August 2018, the Company received a conversion notice from YA II PN, Ltd. in respect of 241 of its Series A Preferred Convertible Shares ("Preferred Shares") in lieu of respective cash payment for the month of August. That conversion notice stipulated that the number of Ordinary Shares to be issued following conversion was 82,077,412. On 3 September 2018, YA II PN, Ltd. purported to issue a further conversion notice (together with the 28 August 2018 notice, the "Conversion Notices") in respect of a further 241 Preferred Shares, to be converted into 93,784,120 Ordinary Shares, in lieu of respective cash payment for the month of September.Instead, later on 12 September 2018, the Company received a purported notice of default from YA II PN, Ltd. in respect of the Conversion Notices (the "Purported Default Notice"), stating that the Company's failure to convert Preferred Shares in accordance with the Conversion Notices constituted a "Triggering Event" under the terms applicable to the Preferred Shares. The Purported Default Notice demands the redemption in cash of 2,650 Preferred Shares at a liquidation amount of $2,650,000.Because FRR did not issue the shares as mentioned in paragraph 1 the amount increased from $2.65m to just over $3m. Had they given YA the shares they would have owed $2.65m but they refused hence the amount of money increased. I hope that's clear.

[loglorry1] 19/10/2018 17:26

No @tickboo cos there was no conversion notice the amount owed stayed at $2.65m.

They can hardly dispute that YA were allowed to sell shares and then take that amount off what they owed to come to the $2.65m then add it back on. That's silly. The loan amount was unconverted CLNS.

I'm any case just look at the Interims they owed less than $3m then its clearly on the balance sheet how can it go up since we know they made one cash payment.

[tickboo] 19/10/2018 17:07

Come on log. YA requested $2.65 as they had demanded 2 lots of shares conversion for August and September which was some 175m shares and as FRR did not provide them the amount is back up to over $3m. YA wanted shares but FRR don't want to so will pay cash. Get it?

[loglorry1] 19/10/2018 17:03

I'm the Idiot?
-----

Yes you are. They owed $2.65m that's common ground now they are paying back over 3m. FRR have given them neither cash or shares since they RNSd they owed 2.65m and now YA are going to get 3m in cash or shares.

They are so broke they can only manage $65k a month.

We are expected to believe this is self imposed poverty because at any time they could turn the taps on at the T wells.

Don't be so daft.

[dson1] 19/10/2018 16:05

I'm the Idiot?

You can't get your head around this very simple issue:

The reason YA issued a Default Amount of $2.65m is because at the time, they had received 1 payment of $265k and had pre-sold 1 payment worth $265k. At that moment in time.

The new deal, reverts back to before YA pre-sold (so yes, they will have had to buy those shares back - this is the whole issue in the first place.

The new deal reflects the situation had YA not pre-sold, which is $3.18m - 1 payment of $265k equaling:

$64,900 x 5 months (Nov, Dec, Jan, Feb, Mar) = $324,500
$149,600 x 3 months (Apr, May, Jun) = $448,800
Then lump sum of $2,141,700 in July.
Total of above = $2,915,000

So NO. FRR HAVE NOT paid more than they would've done if they'd just paid the Default Notice. IT IS THE EXACT SAME AMOUNT - on more favorable terms to FRR!

[wshak] 19/10/2018 15:59

dson1,

You really are an idiot.

Whatever shares YA allegedly pre-sold would have had to be bought back in the market as FRR didn't deliver them.

You can't count whatever shares FRR DIDN'T deliver as part of the money they were paid.

No wonder you guys picks stocks like FRR with logic like that.

[ccr1958] 19/10/2018 15:58

Weak have been flushed out .

[wshak] 19/10/2018 15:57

Mick1909,

THEY ARE PAYING MORE.

YA were asking for $2.65m in cash immediately.

The restructured payment plans (both OLD and NEW) require them to pay MORE.

That is hardly punishment for short selling, is it?

[mick1909] 19/10/2018 15:55

Any comment??

[mick1909] 19/10/2018 15:49

Your contradicting yourself your twitter feed says frr are paying more????