It does look like the odds of a convertible note are increasing and this type of 'vulture funding' is never good for shareholders. The company will say, look we have $10 million we can draw down when needed but as others have mentioned 'the devil is in the detail'.
It's desperate funding and shareholders always come off second best. As I said before, I think the 'dam wall' is very close to breaking on this one.
Ann: Quarterly Activities and Cashflow Report, page-310
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