springtree move, page-40

Whoa...how can I be wrong if it hasn't happened yet?

ST hasn't taken a monthly tranche yet.

I may be wrong and I am a mug punter, and this is the first time I've tried to follow this sort of thing in detail, but please correct me if I am wrong because your + Jaded's knowledge is part of me trying to learn something...

3/5/11 - ST announcement and App 3B = commencement fee (387k @ 0.65) + the 2015 options + convertible security issue @ $800k

6/5/11 - App3B to sophs of 8,461,538 @ 0.65cps

5/7/11 - ST converts the security...2,076,843 @ 0.3852cps = $800k as specified in the agreement.


So where's the june ST tranche? I don't understand. I haven't seen them. The agreement says APPROXIMATELY monthly as well. What does this mean?

Also, I had a glance at all the ST investments I could find and noticed that when they come on board, they tend to halve the price to get their first bite then proceed to test the support while getting their monthly tranche. Of course there's exceptions but I saw enough evidence to think there might be something in it (BCC, LCT etc) and exit movements (PRR) are interesting too.

As I say, I'm a mug punter learning and if I've just cocked my leg again, clean it up for me mate, whenever I bend over my prostate gives me hell.... :-)