So let me get it right:If we don't sack them all, and if we...

So let me get it right:

If we don't sack them all, and if we don't liquidate, then they will stick around and be paid in super cheap shares.

How generous of them!

Still no info:
- exact term structure of debt.
- what is this 16.7 million they want to repay straight-away. Did they take out another line of credit to get us this far before running out of cash?
- after paying back the 16.7 million, and other costs, we have $21.3 million in cash. Why are we able NOT to pay this back under the scenario where we raise less than the maximium? Is this debt due straight away of not?
- How are we going to pay the convertibles? Wasn't that meant to be the most pressing liability?
- Have any of the major shareholders committed?
- Is Iggy going to underwrite it for $500K-$1 million?


They've managed to avoid giving us lots of words, without answering the questions we want answered the most...and raise some new question in the process.

Lets hope the prospectus is more informative.