If INT don't have the cash to pay out Lord in January, the CNote will lapse and then the negotiation starts.
There is nothing to stop INT "revising" the strike price down in order to satisfy Lord. That's one of my big concerns.
If Lord plays hard ball, he might be able to get $2.1M in shares rather than cash. What price he gets issued those shares at is the big question.
amicable agm, page-28
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