Guzz, I wouldn't count your chickens before they hatch.
There's more converting due to come from Bergen I believe, who at this point must be licking their lips at the thought of an already agreed price of 90% of 5 day VWAP average (let's call that 1.1c for arguments sake). That allows them to convert at 1c and then theoritically they could sell on market for 1.1c and make a quick 10% on the deal.
Rinse and repeat and in the meantime the company is on track to post another quarterly loss, meaning that further CR's at this price or below are a very real possibility.
Until management are able to prove that they are able to stop the bleeding and generate a positive cash flow, this dog stands to go nowhere (unfortunately) IMO. Further dilution (destroying shareholder value) is fast becoming the norm.
MNE Price at posting:
1.1¢ Sentiment: None Disclosure: Held
