soc secures up to $4 million funding , page-8

Bergen are usually a lender of last resort or a quick fix imo. I'm not aware of them investing, they just want quick profits or maybe high probability short term investments.

With SOC in with a good chance of winning the number of announcements released on ASX award for 2013, maybe Bergen can slowly sell into news in 2014.

The additional 10% placement capacity recently introduced may save a few companies from resorting to convertible notes but generally not good for sp.

I've never seen the 130% used, just 90% of vwap - not a difficult decision for noteholders.

Bergen get $1.1m of shares for $1m at 90% of vwap (90% of 16.5c for example)

$1m outlay for approx 7.3m shares at 15c (based on vwap)

So effectively a 13c-14c raise imo.

3B will soon confirm.