That's a reasonable assumption kramer43. Another scenario would be that Bergen will still be converting $2.18 mil worth of shares at 90% of the prevailing sp. So if the sp drops to o.2c after trade resumption they will be getting well over 1 billion shares, giving them more than 50% of the company. Prime example would be PRA now THD: They issued $1 mil worth of connotes at 0.1c giving the holder 1 billion shares just before the RTO of Thred. Those shares are now worth a whopping $8 mil after consolidation, it would have been worth $10 mil at indicative relisting price but the sp dropped since then. If things unfold in this manner then current holders are diluted to oblivion even if they successfully vend into a new business. It would make much more sense for Bergen to convert at the bottom than wait for the sp to appreciate to convert. That's why they are called vultures.
XTV Price at posting:
0.8¢ Sentiment: None Disclosure: Not Held
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