Crown conversion of $1m to shares at 1c making it holding more than 121 million shares (unless they have sold any shares since Jan 2013), the largest shareholder. With the current market trading, Crown immediately reduce that $1m loan to half. Even worse if they need money and sell into the market right now, they may end up just less than $300k. So Crown see 1c is fair and is good for medium term.
Crown conversion of $1m to shares at 1c making it holding more...
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