Ann: Notice of 2017 General Meeting and Proxy Form, page-31

i tend to agree with you to a point..if they have inside info on quality and a better idea of expected revenue then why wouldn't they want to increase their holding and secure a controlling interest..they would still be entitled to everything in the finance agreement and pick up a highly undervalued company. also if they wind up having some pull at the table they could also force the co to activate addittional tranches increasing thier share for very little. in this scenario it will depend on two factors.
1. amount of shares accumulated by this vulture.
2. the will and the intent of other main shareholders who can give a raider the leg up to 51%.
i still contend that Arena have been buying heavily over the last week..its their intention that is unclear. either way they will do what best for them not me or fellow mustangers.
good luck abd thanks for going to the EGM