The Cloud - the selling down by BTC of 12m shares which raises approximately $1m for their coffers.
The Silver Lining - converting their note at 4c per share to increase their shareholding by 25m shares, a net increase of 13m shares.
Essentially, it would appear that BTC have raised $1m selling shares around 8c to cover the maturing of the $1m convertible note which they previously advanced to provide working capital for Phylogica. All in all a neat transaction for BTC shareholders and vote of confidence in the long term future of Phylogica.
The Cloud - the selling down by BTC of 12m shares which raises...
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