'TERMINATION OF CONVERTIBLE LOAN The Company would further like to advise that by mutual agreement, it has agreed to terminate the Convertible Loan Agreement with Golden State Capital, Inc previously announced to the ASX on 23 November 2017. No funds were drawn down under this agreement. '
I have basically no knowledge on the financial side of share investing, but this struck me a little. Would I be wrong in saying, by doing this, they are risking all their potentially access to funding on this credit raising? I.e the share price getting to the point where people will convert their options in Aug 2018? They would need to have a bloody good reason to do that from my knowledge, shortening their time frame to get things done. I would have thought the loan at least could have given them a few more months of cash burn.
IMO and it's generally wrong with wangle.
WGL Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
