That's not how it works...the $10m loan is unsecured, not convertible. Plus, they already have 63.58% of the company. They do not need more shares for control, as they already have it. There are two ways for them to get their money back - bleed it dry and take it private, or produce. I think saving face will see them produce.
Ann: TGM: TGM Offer Price Improved and Extension of Closing Date, page-24
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Mkt cap ! $35.81M | |||
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