Ann: Hanlong Convertible Note Extension, page-23

Doc,

"But it says to me that they don't see 3.2c as a good buy in price."

What do they consider a good buy in price? wait for the the sp to drop to 2c. NOW of course, a big question that needs to be clarified is whether H/L is entitled to still trigger the note at any stage from here on in or whether they may only trigger shortly before or on the next maturity date. What conditions are attached to the extension???
If HL cannot simply trigger at any given time, they are certainly running the risk of not picking up the shares at a cheaper rate - think we are now at multi-year lows, and if a buyer steps in to take the infrastructure or equity in mine, they would have lost an opportunity. So I don't think the above reasoning holds water either. - to many possibilties that can play out which would increase their risk. They might as well just take the $5mil right now and reinvest - why wait longer.