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Message: debenture

Buckeyes,

Another thing to consider is that it looks like this extension, like the last extension, was done without cost or penalty, which is a rare treat. Considering that no interest payments need to be made until maturity, Hepa basically gave RVX a gift with value. Interest did jump from 10% to 12% (from May 2023 onwards) which is also less than the increase in the inflation rate this year. 

Hepa does seem like a good partner to have. From their perspective, their loan is well collateralized and I think their investment is relatively low risk even if RVX were to fail. It has not been converted into shares, so dilution only favours them in the meantime.

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