"Dodgy"...yes but it's not the Con Note issuer. They've used it...

"Dodgy"...yes but it's not the Con Note issuer. They've used it as best they can to their own advantage- that's tough love (and business). Arguably it's company management teams that reply on such instruments that are so detrimental.....and dodgy by extension for using warrants/notes to secure short term funding without having the surety of being able to repay them in quick order. As you say it's been part causal (arbitration outcome didn't help) for a 75% drop in the share price over a short period of time. It's put the company & current shareholders in a difficult place with the prospect of a capital call for more equity when the share price is on the canvas; the prospect of dilution to oblivion. The blame for that should be firmly directed to management. Appalling capital management demonstrated here that put all the eggs into an outcome that was never guaranteed in a favourable arbitration outcome.