Their buddies are all in on the convertible note. As if they'd poleax the share price and kill any prospect of ever seeing their notes convert at 2c.
The selling is almost all retail punters who've given up on a deal. Can't blame them really, especially after this latest miss.
The biggest problem is that Lingo holds zero equity, and based off his response, or lack of response until today, he doesn't care about share price at all.
We'll wait and see what Lingo's plan is to keep this thing afloat till the Koreans sign. Maybe the government will kick in a loan or something to tide them over - its in everyone's best interest, otherwise TEG and PGY fold and the Cliff Head liability goes back to the government.
If you have risk appetite, this one is now a 30 bagger.
PGY Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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