Yeah, the notes are not right for an average Mr & Mrs Joe Bloggs who decided to invest their hard earned cash into this company, and have been already and will be diluted further into a smaller and smaller holding upon the continuing issue and conversion of convertible notes.
What makes you think all SI's are the holders of the con notes? All was quiet in the camp until the terms and conditions were changed on the $10mil/200mil con notes, so as anyone would know those already holding and seeking to acquire more notes wouldn't want the cage rattled. It has been far too easy for some to drop a % of their holdings into the queue to achieve a far better return from their existing notes, let alone any future notes they purchase with the change in the conversion clause.
Why create aspersions about anyone who is involved in helping to bring more transparency into the workings of a company?
Drawing attention to the inequalities that these notes have for the average investor, has no bearing regardless whether the messenger is an SI or not.
It is not being regarded as an SI that is doing damage to a lot of people's holdings, but it is if the SI has a plan of acquiring a substantial quantity of con notes with the ability to convert them at anytime they so desire at a discount to the current share price (vwap).
But any person, sophisticated investor or no SI, with this motive would not as margi so plainly depicts, "throw a spanner in the works".
They would be as quiet as can be and aiming for as low a SP as possible to convert their notes into and then with a pump on a news event hope to offload them at - you guessed it- a huge profit.
Proof is in the pudding, a SP of 0.008, and it's not taking much selling to get down to these levels either.
Who wins out of such a down trodden SP? Yep you guessed right again but whatever you do you must try and cast as much doubt as possible about the very people who have been trying to get more transparency and more equality.
GGP Price at posting:
0.7¢ Sentiment: None Disclosure: Held
