Harsh? Cyprium paid buggerall upfront, with $36m in con notes payable. Those notes are due in less than 9 months along with Nebari which is due at the end of December. If these notes are not extended it could very well drive CYM into administration. I also don't think CYM was a white knight by "saving" MLX. Cyprium saw value and they acquired it. It's been 3 years and those notes are now due. I don't blame them for extending the due date at all. The 6% interest rate seems fair enough (was 4%) but don't forget you can get 5% in a term deposit no problem at the moment.
Ann: MLX: Update on Cyprium Convertible Notes, page-4
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