but i think whats shaping the timeline now is the need to avoid 'penalties' for repaying the 500k loan, which come into effect 70 days after it was drawn down.
the penalties are that the 500k loan can be converted to shares at a price somewhere between 0.05c ps and (approx) 0.09c ps 70 days after the loan is drawn down. a conversion at current prices would imply approx 5% dilution. it has been and remains managements intention to repay the loan to avoid this conversion.
70 days past the draw down date (assume its date of announcement) is 9/1/14. thats the real deadline but being the christmas they will be trying to secure a deal before people head off on holiday.
thats why the christmas deadline makes sense. that little 500k loan has become a wonderful agent for action.
AWD Price at posting:
0.6¢ Sentiment: None Disclosure: Held
