The convertible notes at 45 cents are problematic with regard to the share price.
We may see it retracing to the 45 cent level as a result of these. There are 11 million of them.
There was 87 million capital raising shares released at 50 cents to sophisticated investors (sophs), so the other side of the argument is that we may see a short term pump for the sophs to make a quick profit. It could go either way I suppose, or both ways eventually.
It might be time to wait and see how the short term trading plays out, and keep a watchful eye.
There may be a possibility of picking up shares under the capital raising price, if lucky.
At the moment, the raising is due to close on Tuesday the 25th August, if it is not extended.
Gw
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