EM2, page-214

I’m wondering what they will do with the $3m loan from Charles Bass considering it matures on 31 December and an election as to whether it’ll be repaid or converted into shares is meant to occur 90 days prior, so the end of September. There’s no money to repay it and if it converted into shares it would cause massive dilution. Maybe they will agree to extend the maturity or something, as another capital raise at these prices will be pretty ruinous.

Any thoughts? Maybe they’re hoping some good news will bump the share price and they can do a raise but that’s still a gamble.