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3.6¢ norwood systems limited

Ann: $200,000 Convertible Note, page-115

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Wanty017

988 Posts.

124

19/05/21

12:24

Post #: 53274506
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Originally posted by DoubleDown! ↑

I don't mind this argument. If foreclosure on the company was imminent why would you put $200k in?

To that I'd say, there are several holders here who have been averaging down through what appears to be Norwoods terminal decline. Gamblers put another $50 in the machine because they think they're due.

The obvious come back to that is that Paul has a much greater insight into what the company is doing and where it's at. To which I'd say that actually maybe his judgement is clouded and maybe he needs to step back to see how the company really is.

Interesting also that he chose a convertible note, which is a debt instrument and not stock to structure the raise. He is a creditor to Norwood and creditors stand before shareholders to receive funds from a wind up. That being said they automatically convert to stock on shareholder approval which would almost certainly happen at a meeting of the company should a wind up occur.

Expand

PO's wage plus super is one of the biggest expenses the company has. I dont think it is anymore than money leaving one pocket and going into another one. And there is always a chance that for the next CR there will be someone interested and then you are suddenly one year ahead.

NOR Price at posting: 1.9¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 3.6¢		Change 0.005(16.1%)		Mkt cap ! $17.15M

Open	High	Low	Value	Volume
3.6¢	3.6¢	3.6¢	$617	17.14K

Buyers (Bids)

No.	Vol.	Price($)
1	1327	3.7¢

Sellers (Offers)

Price($)	Vol.	No.
3.8¢	2663	1

View Market Depth

No.	Vol.	Price($)
1	1327	0.037
1	182857	0.036
1	100000	0.031
1	13400	0.030
1	96000	0.028

Price($)	Vol.	No.
0.038	2663	1
0.039	32258	1
0.042	23833	1
0.044	34501	1
0.046	21760	1

Last trade - 13.49pm 31/10/2024 (20 minute delay)

NOR (ASX) Chart