Ann: December quarter cash flow statement , page-3

"Intermoco has subsequently drawn down $297,000 of this (of which $150,000 has been converted into Equity)"

So La Jolla have only converted about half into shares and the rest is earning 4.5%. I wonder if they sold everything they converted or if they've held some?

Fairly neutral 4C. Basically what we expected and what the market has been saying. Definately some positive signs. But definately a slower story than originally hoped for. Next 12months will be interesting with more revenue, La Jolla, new contracts, etc. Wouldn't be shocked to see another con note.