They didn't think the options would be converted hence why they went for a CR. I don't understand why they didn't try to get them underwritten. I have always had questions about management here and was hoping with the new guy things might change but looks like more of the same. The sad thing is despite management the company has the makings of quite a good project depending on more drilling success.
Ann: Tennant Completes Successful $4.8M Capital Raising, page-5
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