I agree the underlying cause of contractual issue is regulation, but I only post for the comment that it was 'contractual rather than regulatory'. To me that is potentially confusing to a reader as it could suggest no regulatory oversight. Agreed it is poor and makes me ask, will I back management on the next stage of growth (scaling the model)- absolutely not. Taking the first exit that presents itself.
Ann: Appendix 3B - Conversion of 70,000 Con Notes, page-62
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