So it was a director's convertible note after all. The conversion into a short term loan saved him quite a bit as he would have had to convert at 10c per share. What a let off! Today's announcement sounds as if the company was let off, instead of the forcible conversion at 10c. Good to be a director, eh! Good protection. So, going by the past announcements, the director tips in 1.3m towards the entitlement issue and gets back his 1.7m from the convertible note. Nice. So c'mon shareholders, you reckon there are more guys who need to be bailed out by tipping into the entitlement issue? By the way, suddenly the share price gets moved up in the last couple of days, just prior to this announcement. Low turnover. Wonder who's buying. Took SP up to .025c from 2c. Entitlement issue at 2c. Confidence-booster, hey! Anybody convinced?
ATJ Price at posting:
2.5¢ Sentiment: None Disclosure: Held
