la jolla cover holding, page-8

in what capacity had ESi had a relationship with La Jolla for 18mths!!!!
i guess they must include the occasional beer as part of a commercial relationship.

my view is, if ESI could get some mileage out of releasing the top 40 at the end of this month showing that La Jolla is a major holder, thus reinforcing the credibility of the statements made at the AGM, they would.

If, on the other hand, La Jolla has already sold most of their holdings, they wont release a top 40, thus reinforcing the view that everyone had about such a note that ESI, at the time of the AGM, quite obviously didnt share(or refused to tell).

La Jolla Cove notes are financing and trading mechanisms that are offered to listed companies with little choice left to them for raising capital. The little choice is often a direct correlation to the company's perceived prospects in the market (or else they'd have a lot more choice). That's is why, there is a lot of evidence to show that these con notes hurt company's share price because those that take it are usually struggling anyway and the extra overhang and selling pressure adds even more stress on shareholder's returns (unless your La Jolla Cove). Some dont crash. A lot do.
It takes a lot of good developments which translate into worthy announcements to hold back the tide of a con note like this, again, which ESI seems to be lacking at the moment. Silence certainly doesnt help the situation.

Here's hoping for the next big announcement.