Could be nearing the end here. Lind (formerly Springtree) are...

Could be nearing the end here.

Lind (formerly Springtree) are known for their aggressive, "death spiral" loans. Companies take up such loans when there is no other avenue of financing available to them but I have never known a company to recover after getting into such an arrangement.

In this case, there is a caveat, that shares cannot be converted by Lind for under 1.5c. This is remarkable, because it means Lind cannot sell their LRS shares, unless the SP climbs to 1.5c. The latter is unlikely, because LRS now have no money to drill (even if they had the permits).

Being unable to repay the loan to Lind, and with no other income, what will LRS do? They may file for bankruptcy. That way, directors also get the money from the recent loans issued to them by the company.

I'm not saying this WILL happen, but I can't see too many other scenarios here.

GLTA.