a capital raising, page-7

What Joewolf said about defaulting on the con note is correct. The holder needs to use correct legal recourse to recoup money and that takes time.

But NO asx listed company would use that method for a 1 or 2 month extension.

INT would need to announce default of con note. sp would crash and reputations ruined.

If its a con note, by nature doesnt it convert into shares if INT cant repay by due date? Impossible to default on?

But the conversion or cap raising is what we are trying to avoid.

$2mil isnt alot of money. Paying out some, then converting the rest or a very short rollover 3-6months is very possible. Wouldnt put it past Macq paying it out with a high interest short term loan.