avd raising more debt & dilution!

ASX announcement just out that AVD (half of the takeover consortium and the actual company that is offering their stock in exchange for your TEX shares) has just raised their already high debt level another $5M through a convertible note and also diluted shareholder value by adding another 31 million shares at 8cents a piece (a total of $2.5M to undisclosed parties).

I am not crazy about their attitude to debt and use of multi company transfers to attempt to keep this business looking credible.

I remain in rejection mode.

And hang-out for options on options. There is plenty of time for TEX to restructure the TEXO's (ie to keep them alive rather than simply expire) once the Blaze is extinguished!