At the end of November, NIA was planning to announce during the month of December... CurrencyWorks (TSXV: CWRK) as its #1 overall pick for 2021 and Arianne Phosphate (TSXV: DAN) as its #2 overall pick for 2021. When CWRK suddenly began to explode on December 3rd from its end of November price of $0.055 per share and hit a high on December 4th of $0.305 per share, we were sure that CWRK was going to explode to $1+ in the following days and were devastated thinking that NIA members were going to totally miss out.
After CWRK hit $0.305 per share on December 4th up 454.55% from the price we thought we would be suggesting it at... we decided to make Arianne Phosphate (TSXV: DAN) our #1 overall pick for 2021 and have no #2 overall pick. However, for us to make DAN our #1 overall pick for 2021 we needed the company to resolve its debt situation because it had a credit facility and separate unsecured debt coming due in June 2021. Unfortunately, DAN didn't resolve its debt situation in time to become our #1 overall pick for 2021, but it DID resolve its debt situation late last week with more favorable terms than we ever imagined!
Last week, DAN not only announced a significant reduction of its credit facility debt but DAN successfully extended the maturity of the remaining credit facility debt by five years to June 2026! In addition, its credit facility interest rate was nearly cut in half! Separately, DAN eliminated its unsecured debt by getting the debt holders to convert to stock!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from DAN of USD$30,000 cash and expects to receive options to purchase 100,000 shares of DAN stock with an exercise price based on the closing price of the stock on the day before the options get issued for a six-month marketing contract. NIA has not been compensated by CWRK but the Chairman of CWRK is also the Chairman of DFLY and NIA has received compensation from DFLY of USD$30,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.