I was thinking about renogotiating the note. What if you could...

I was thinking about renogotiating the note. What if you could band together a bunch of existing investors, a rate of say 12% over 3 years to reflect the high risk, with a revised exercise price of 1.2-1.5c at the noteholders discretion. If they default you get the company. They can pay out early at a penalty of 100K.

If you believe the coy will pick up over time it is a pretty good proposition. I would somehow find 100K to go into that one. I reckon Kiril would have to be in.