tommorrow, page-13

Doesn't look good.

They've borrowed another $500k to prepay the interest on the $EU5m loan that is used to secure the $EU20m loan.

They are digging a massive hole of debt.

This $500k is secured against the AWD assets and has significant interest obligations. And they've issued millions of convertible notes at a 20% discount to 5d VWAP - hence the sharp drop. These guys will offload all their shares quickly to mitigate the risk of a default by AWD.

All the language still seems to quite evasive with lots of "should" and "if" statements.

Good luck,