re: Ann: Director Shares to be Sold and Appro... They have to refinance 16 million dollars before the end of Feb, that is nearly the entire market cap of the company.
These are debentures @ 80 cents, so there is no way they will convert to shares.
If they where to renegotiate, the number of shares on issue would double.
Whichever way they do this it can only result in shareholders taking a massive bath, again.
Ann: Director Shares to be Sold and Approval Soug, page-9
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