I wholeheartedly agree with your sentiments,TB, but the fact...

I wholeheartedly agree with your sentiments,TB, but the fact remains; Up to 100% of the principal funds plus any accrued and unpaid interest may be converted into Horizon shares at the lender's election• And if the loan is paid out early then this takes place;The Company has the right to make early repayments, subject to the issue of options in a number and value equal to 100% of the prepayment amount. The options will have an exercise price equal to the conversion price and an expiry date of the later of 18 months and the maturity date.
From my admittedly very biased and untutored opinion,this has to be one of the most one sided loan agreements I 've come across,given that even in those early days, HRZ wasn't a bad bet. One, Jon Price was behind this deal, from what I read. I'd love to be able to listen in on some of the 'off the record' phone communications he had with the principles of Nebari Gold. As NTN has pointed out,Nebari are $4million ahead as I write. When Nov 29 comes around Lord knows what their loan will be worth. $20 million? And then if they convert and get Board representation what deals could they promote with Golden Crane at our expense? I won't be happy until we are totally out of the clutches of what I consider to be a loan shark. How that can be done given the conditions stated,I don't know.

db