Let me clarify. Once the long form doc is complete which should be soon, then it will go to a shareholder vote in late August, early Sept with the aim of formalizing deal by October. However the company still need to discuss all this with ASIC about a delisting most likely in Oct/Nov. so still 4 months away.
Not all money lost, definitely not. If shareholders take up the full entitlement of convertible notes, then dilution will be at approx 55%.
MCS Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held