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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Last
14.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $40.11M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 105691 | 14.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 18470 | 2 |
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