It seems that something is happening because someone/group are...

It seems that something is happening because someone/group are trying to protect the price if not build it up to at least 10c in order I think to do a CR either through all,investors or institutional / sophisticated investors at maybe the price someone suggested last week of around 6c to 7c.

My guess is that they will try and get Magna to accept say a convertible note on the $3m owed . The trick here would be the length of time and that it converts to a lump sum payment and not shares, in say 5 years time , but could be paid off earlier at the company's discretion .

Secondly subject the timing required for a CR , the company should aim to raise nearly $2m by issuing the 10% allowed ideally to investors at 6c, but excluding Magna .

I don't know if these things can be achieved before the end of this quarter or not .
Does anyone know the legal time requirement to offer a CR to existing share holders and can Magna be excluded . Plus I don't think there are any other institutional or sophisticated investors interested.