As identified in the CCAA filing that is publicly available, here are the terms for Lynx’s $25m debt +10% interest paid quarterly owing to the CRA. Lynx had 9 operating tails to generate the revenue required to start the $700k a month payments in April. Flair has 20 tails to repay the $67m + interest owed. If Lynx’s payment was $700k a month as of April, and Flair has 2.2x the revenue generating capability as Lynx, Flair will be writing a monthly cheque for $1,540,00 to the CRA. Ouch.
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HangTen February 25, 2024
As identified in the CCAA filing that is publicly available, here are the terms for Lynx’s $25m debt +10% interest paid quarterly owing to the CRA. Lynx had 9 operating tails to generate the revenue required to start the $700k a month payments in April. Flair has 20 tails to repay the $67m + interest owed. If Lynx’s payment was $700k a month as of April, and Flair has 2.2x the revenue generating capability as Lynx, Flair will be writing a monthly cheque for $1,540,00 to the CRA. Ouch.

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