@RMGNetworks Amends Its Senior Credit Facility
Adrian J Cotterill, Editor-in-Chief
The official statement from RMG Networks Holding Corporation (NASDAQ: RMGN) is worded ‘RMG Networks Amends Its Senior Credit Facility’ with subtext “Increases Senior Credit Facility to $14 Million; Adds Approximately $2 Million in Net Cash Proceeds”.
What it really means is that Greg Sachs has popped another USD 2 million into RMG.
The statement says “The additional capital reaffirms the lending group’s belief of the Company’s long-term prospects and its continued support of management’s strategic growth plan.”
November 14th, 2014 at 17:04 @753
Sounds like that analyst on the earnings call was right… there really wasn’t enough cash to get through the next two quarters.