flow rates and momentum, page-24

yes you are right - the $2.5 mill is a loan from a substantial shareholder Investmet, allocated for the Fairway Project and being drawn down now to fund the next two wells. So TEX is not relying on monies from options conversions. Shareholder approval for this loan as a convertible note issue (at 1 share per 7.5 c loaned) should be a formality IMHO

Disclaimer : No investment recommendation expressed or implied DYOR