They shouldn't be around much longer
They are on there fourth and final conversion note
VLA will need to source funding elsewhere
"24th June 2011, Sydney: Viralytics Limited (ASX:VLA, OTC: VRACY) advises
that La Jolla Cove Investors, Inc (LJCI) have advised that they wish to
immediately convert US$211,000 of funds previously advanced under the
convertible note facility into 3,412,969 fully paid ordinary shares.
This conversion leaves a balance of US$100,962 of funds that have been
advanced under the facility but have not yet been either converted to shares or
repaid.
The outstanding amount that can be drawn down under the fourth and final
convertible note is US$350,000.
An Appendix 3B in relation to the above is attached."
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