Eloi, you are wrong regarding the debt. It is $6m straight debt and $4m convertible notes. The notes convert at $0.20 per share however the important part is that it is at the discretion of the LENDER, ie unless the share price is well above $0.20 (was that a flying pig that I just saw?!?) it will just be treated as normal debt. So for all intents and purposes the company’s debt is $10m. I’m guessing you’ve been talking to your mate Karl and he omitted to give you the complete description of how the debt works. Why am I not surprised....
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Eloi, you are wrong regarding the debt. It is $6m straight debt...
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